Contracting Newbie

[cmscotland]

Thanks for the replies everyone, I'm going to do some reading tonight but it seems to me that if I'm planning to contract into the future that I might as well just start with the Ltd Co, it seems to me that as long as I've got a decent accounting co that it shouldn't be an awful lot more work and that it gives me more benefits tax wise, especially if I plan on contracting long term.

[cmscotland]

Whats in a name?
I've read over the information about naming your Limited Company and unerstand all the legalities/things you can't use but hat do people generally use as their name for contracting? Just your name?

[Wanderer]

hat do people generally use as their name for contracting? Just your name?

Just use something generic sounding.

I would avoid anything that identifies you personally or your profession. eg, Wander's IT Contracting LTD would be a poor choice for example. For one thing, I may not run the company forever it's going to be a bit odd selling on a company with your name in it. Secondly, you may be an IT contractor forever so you shouldn't put that in the name. One day there may be a lot of money in the company and you may decide to reinvent it as some other thing.

Also, client's generally don't give a hoot what your company is called but don't make it anything silly or something that could potentially infringe someone else's trademark or trading name.

[SimonMac]

Whats in a name?
I've read over the information about naming your Limited Company and unerstand all the legalities/things you can't use but hat do people generally use as their name for contracting? Just your name?

I was given the advice don't use First Name Surname IT Contracting etc as it makes you sound like a one man band and more likely to be "picked at random" by Hector for an audit, the theory being if they have to audit 1,000 companies it would be easier and quicker to audit a one man band.

I dunno how much truth is in this but sounds reasonable.

[norrahe]

I was given the advice don't use First Name Surname IT Contracting etc as it makes you sound like a one man band and more likely to be "picked at random" by Hector for an audit, the theory being if they have to audit 1,000 companies it would be easier and quicker to audit a one man band.

I dunno how much truth is in this but sounds reasonable.

John Lewis???

Peter Jones

Robert Dyas

Hmmmm!