Setting up a limited company
Discussion
If you are setting up a company as a self-employed contractor or similar then look at <http://www.sjdaccountancy.com> as one source of information. I have used them for my own consultancy company.
You need to check the ramifications of IR35 (i.e. HMRC can deem that you are employed if the work you are doing is too similar to being an employee).
You also need to look at the difference between a full Limited company or working under an Umbrella company.
If you are looking to do something totally different then you can just use them to set up the company.
You need to check the ramifications of IR35 (i.e. HMRC can deem that you are employed if the work you are doing is too similar to being an employee).
You also need to look at the difference between a full Limited company or working under an Umbrella company.
If you are looking to do something totally different then you can just use them to set up the company.
Need to be careful if the two trading activities are wildly disimilar. It could burden you with extra disclosure requirements in the company accounts and could cause problems regarding proper allocation of costs between the two trades - not to mention capital allowance claims and loss offsets (if losses are made).
Eric Mc said:
Need to be careful if the two trading activities are wildly disimilar. It could burden you with extra disclosure requirements in the company accounts and could cause problems regarding proper allocation of costs between the two trades - not to mention capital allowance claims and loss offsets (if losses are made).
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