Reply to: Urgent Questions

[blacjac]

[QUOTE=max;678661]1. No. Cancel your payments now. If you're not getting cash, why should they?
[QUOTE]

Do you cancel your mortgage payments and utility bills when on the bench as well?

If you cancel your payments to your accountant now, he might (quite rightly IMO) refuse to do your end of year accounts, as that's what you are paying him in advance for....

[max]

Hi,

1. Being on bench do i still need to pay monthly accountancy fee to Accountant?
2. if i go permanent then do i need to close my Pvt Ltd company?
3. if i need to close then what is procedure? any suggestions?



please reply..

-Thanks & Regards
Nav

1. No. Cancel your payments now. If you're not getting cash, why should they?

2. How will you go permi, there are no jobs?

3. The procedure is covered in your welcome pack you should have received when you started your company. Did you read it?

[TheFaQQer]

In a nutshell... you are the sole or joint shareholder of the business. If you are not, then you are not a director of the company. As you are the sole shareholder of the business, resigning would mean that you have no further holdings in the business. Which means you will have sold your business to someone or folded the business.

Regarding whether you should wait to become a permie.... only you and AndyW can answer that.

No, no, no.

The OP may or may not be a shareholder in the business. They may or may not be a director of the company. There isn't enough detail in the thread to know either for sure, but I would guess that they are a director and shareholder.

You can resign your position and still be a shareholder in the company. You only cease to be a shareholder when you sell your shares or close the company. You can resign though, and still have shares in the company.

[Mustang]

should i wait for some more time for contract or switch to permie?

Based on your questions I should switch to permie ASAP

[pmeswani]

But how is it possible, because presently i am employed by my own pvt ltd company and if i resign from the director position then who will be the next director?

should i wait for some more time for contract or switch to permie?

please suggest

In a nutshell... you are the sole or joint shareholder of the business. If you are not, then you are not a director of the company. As you are the sole shareholder of the business, resigning would mean that you have no further holdings in the business. Which means you will have sold your business to someone or folded the business.

Regarding whether you should wait to become a permie.... only you and AndyW can answer that.

[DiscoStu]

But how is it possible, because presently i am employed by my own pvt ltd company and if i resign from the director position then who will be the next director?

should i wait for some more time for contract or switch to permie?

please suggest

Why would you need to resign as a director? You either leave the company dormant, in which case you'll still be a director, or you shut it down, then nobody's a director.

As for your second question, you should ask Andyw.

HTH

[naveensoni]

1) Of course, they still have work to do. It's why some people choose umbrellas
2) It's up to you, but you'll still pay for it
3) Talk to your accountant

But how is it possible, because presently i am employed by my own pvt ltd company and if i resign from the director position then who will be the next director?

should i wait for some more time for contract or switch to permie?

please suggest

[TheFaQQer]

I think the general consensus is:

Speak to your accountant.

Only if you are still paying him, of course

[Alan @ BroomeAffinity]

I think the general consensus is:

Speak to your accountant.

[pmeswani]

Hi,

1. Being on bench do i still need to pay monthly accountancy fee to Accountant?
2. if i go permanent then do i need to close my Pvt Ltd company?
3. if i need to close then what is procedure? any suggestions?



please reply..

-Thanks & Regards
Nav

1. Check your contract and speak to your accountant.
2. No. You can submit your year accounts and Corp. Tax and put your company in dormant. You may have to pay an accountant a fee to do your returns on a yearly basis, therefore it may not be efficient to keep your company open beyond its current year end.
3. For the best answer, speak to your accountant.

[TheFaQQer]

Hi,

1. Being on bench do i still need to pay monthly accountancy fee to Accountant?
2. if i go permanent then do i need to close my Pvt Ltd company?
3. if i need to close then what is procedure? any suggestions?



please reply..

-Thanks & Regards
Nav

1 - possibly.
2 - possibly.
3 - no idea.

HTH

[BrilloPad]

Can you please pay me monthly by standing order?

How much is your monthly again?

[DodgyAgent]

Is that why I am still on the bench then?

Can you please pay me monthly by standing order?

[zara_backdog]

You also still need to be paying agents

Is that why I am still on the bench then?

[DodgyAgent]

Hi,

1. Being on bench do i still need to pay monthly accountancy fee to Accountant?
2. if i go permanent then do i need to close my Pvt Ltd company?
3. if i need to close then what is procedure? any suggestions?



please reply..

-Thanks & Regards
Nav

You also still need to be paying agents