New here :-) advice needed

[Wanderer]

I currently have a ltd company and need advice about the safest way to proceed. I have an accountant but everything is a mess..

You are already proceeding in the safest way.

Make an appointment with your accountant and go through everything to get it in order so you are happy again. The set aside a few hours at the end of every month to keep everything up to date and don't let it get in a mess again.

[TheFaQQer]

At least I answered the question first, rather than trotting out the same old tired line yet again.

[northernladuk]

I did accountancy in my first year at university - it clearly shows through here

(I dread to think what my accounts would look like if I did them rather than letting Clare have all the fun and games!)

[LisaContractorUmbrella]

I did accountancy in my first year at university - it clearly shows through here

(I dread to think what my accounts would look like if I did them rather than letting Clare have all the fun and games!)

The fact that you stopped after the first year is probably testament to your sanity Accountants are a very special type of geek

[TheFaQQer]

Are you a closet accountant TF

I did accountancy in my first year at university - it clearly shows through here

(I dread to think what my accounts would look like if I did them rather than letting Clare have all the fun and games!)

[LisaContractorUmbrella]

Limit your invoice amount to £40k a year - no need to be VAT registered at that level.

Put that £40k into a pension plan as an employer contribution, which counts as an expense.

Tax due for the year = £0.

Keep that money away from the government cash cows.

Are you a closet accountant TF

[TheFaQQer]

I am sure you guys see this all the time

Not really - if it did, it would come up in the search results you saw when you did a search, no?

[TheFaQQer]

Limit your invoice amount to £40k a year - no need to be VAT registered at that level.

Put that £40k into a pension plan as an employer contribution, which counts as an expense.

Tax due for the year = £0.

Keep that money away from the government cash cows.

[LisaContractorUmbrella]

I am not sure what you're asking here - you say that you have an accountant but that 'everything is a mess' - what do you mean by that??

If you want to stay within the law then I would avoid 'schemes' that are offering you seemingly high reward/low risk options as recent legislation has rendered them very high risk indeed.

A limited company will net you the greatest rewards if you are outside IR35; if you are inside then you may prefer the less hassle option of an umbrella company as your net return will be very similar.

If you are asking how you can avoid paying tax have a read here HMRC Scheme Enquiries first. If you still want to avoid paying tax then type 90% take home into Google and pick the first option that comes up

[Clare@InTouch]

A limited company is the best option, unless you want to risk getting involved in a solution that will in all likelihood come back to haunt you years after you've left it. Read the BN66 thread, or search the forums for Darwin etc.

A well run limited company can still give you a very good take home, you just have to run it properly, pay attention to what you're doing, and expect to pay at least a bit of tax.

[Contract Test A]

Hi all,

I am sure you guys see this all the time, I currently have a ltd company and need advice about the safest way to proceed. I have an accountant but everything is a mess..

I have heard and been tempted by such companies like Darwin, Bestpay etc but lucky I have done some research before joining them as I am looking for the best way to take home as much as possible with no comeback from HMRC.

I have also considered looking at umbrella companies but I refuse to pay £2000 a month of my wage for expenses tax etc.

Can anyone actually advise a company that is HMRC legit that can help me save my hard earned cash from the Government Cash cows?