Accountant Fees
Discussion
As I'm going to be self employed once I start at Bloodhound SSC I'm going to have to start my own company, take a wage then dividends from the profit, this is the way the guys that already work there have suggested. What would a typical accountant charge for doing the honours for me??
Also, I'm guessing I need to register a company name, not sure how to do that wither as I've never been self employed before.
Also, I'm guessing I need to register a company name, not sure how to do that wither as I've never been self employed before.
Eric Mc said:
"Employer"?
Who are you talking about?
As a director of your own limited company, the employer is actually your limited company.
Bloodhound SSC is not your employer, they are a customer.
What you propose seting up is dangerously exposed to an IR35 attack by HMRC. You need to take some good professional advice on this BEFORE you start seting up a limited company.
I will PM you.
Thanks Eric, as you can tell, this is all totally new to me. I'm really just looking to make sure everything is above board.Who are you talking about?
As a director of your own limited company, the employer is actually your limited company.
Bloodhound SSC is not your employer, they are a customer.
What you propose seting up is dangerously exposed to an IR35 attack by HMRC. You need to take some good professional advice on this BEFORE you start seting up a limited company.
I will PM you.
Eric Mc said:
You cannot afford to get started on the wrong foot. In fact, posting a query about seting up a trading limited company in the "Jobs and Employment" forum always indicates to me a fundamental lack of understanding of whaytis involved inn these situations.
That's me I'm afraid, no idea at the moment what to do for the best.NobleGuy said:
OK, but how is this helping the guy...?
Presumably as the director of a limited company you are employed.
As a director.
Hence "Jobs & Employment" section...
OP: Yes, limited company, basic monthly wage with dividends from profits making up the majority of your income.
As for accountants fees I normally pay around £1000 a year which includes end-of-year accounts, personal tax return, payroll administration and registered office. The only thing I do is VAT returns because they're relatively easy, which may or may not be relevant to you for a while anyway.
Thanks, does your accountant do all your book keeping for you?Presumably as the director of a limited company you are employed.
As a director.
Hence "Jobs & Employment" section...
OP: Yes, limited company, basic monthly wage with dividends from profits making up the majority of your income.
As for accountants fees I normally pay around £1000 a year which includes end-of-year accounts, personal tax return, payroll administration and registered office. The only thing I do is VAT returns because they're relatively easy, which may or may not be relevant to you for a while anyway.
Anybody heard of these guys - http://www.darwinpay.co.uk/toolbox/limited-umbrell...
They are claiming they can pay me 84.5% of the £5000 per month AND I'll be IR35 exempt as their employee. Sounds too good to be true.
They are claiming they can pay me 84.5% of the £5000 per month AND I'll be IR35 exempt as their employee. Sounds too good to be true.
doogz said:
84.5% sounds a bit optimistic.
If i may offer some advice, you may come across one of these umbrella company/Ltd company accountancy agencies called "Brookson"
Stay away, i've never dealt with such complete and utter incompetance.
I've done the umbrella thing, and i've done the accountancy agency thing, and the best advice i can give, is to find a decent local accountant. Someone, that when you need some advice, or have a quick question, you can pick up the phone and speak to. These companies, the people that answer the phones aren't accountants, they're phone monkeys. They don't know anything, and all they'll do is piss you about, or take a message and tell you they'll get someone that actually has a clue, to phone you back. But no-one ever will.
ThanksIf i may offer some advice, you may come across one of these umbrella company/Ltd company accountancy agencies called "Brookson"
Stay away, i've never dealt with such complete and utter incompetance.
I've done the umbrella thing, and i've done the accountancy agency thing, and the best advice i can give, is to find a decent local accountant. Someone, that when you need some advice, or have a quick question, you can pick up the phone and speak to. These companies, the people that answer the phones aren't accountants, they're phone monkeys. They don't know anything, and all they'll do is piss you about, or take a message and tell you they'll get someone that actually has a clue, to phone you back. But no-one ever will.
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