I have been both... now own Ltd company.
Being a limited company and being your own director has many tax advantages, especially if your VAT reg as well.
I dont pay any tax or NI as I pay myself below thresholds, and then pay self dividends,which are corp taxed at 20%.... simples
Posted By: promethian1 on August 7th 2013 at 20:21:06
Message Thread
- Anyone here self employed and got some thoughts on pro/cons of Sole Trader VS Ltd Co? (General Chat) - megson, Aug 7, 18:54:35
- I have been both... now own Ltd company. (General Chat) - promethian1, Aug 7, 20:21:06
- oh... by the way...only corp taxed if a profit made :) (n/m) (General Chat) - promethian1, Aug 7, 20:23:00
- Got ur email meggers. Will email you tomorrow as out this evening. (n/m) (General Chat) - Tony Martin, Aug 7, 20:09:45
- My thoughts... (General Chat) - Larry Hagman, Aug 7, 19:22:13
- This is how I will start I think, perhaps formalise it once I've got a bit more (General Chat) - megson, Aug 7, 19:45:26
- Good plan (n/m) (General Chat) - Larry Hagman, Aug 7, 19:53:25
- This is how I will start I think, perhaps formalise it once I've got a bit more (General Chat) - megson, Aug 7, 19:45:26
- Email me if you like and I'll try to answer ur questions. I'm qualified ACCA. (General Chat) - Tony Martin, Aug 7, 19:09:47
- Hi Meggers, it depends if you are a cash rich enterprise or wether you will be operating (General Chat) - Jumbo1, Aug 7, 19:08:00
- Physical silver not gold. (General Chat) - Tony Martin, Aug 7, 19:14:36
- Tin. Seriously. Sell your house and buy tin. (General Chat) - Arizona Bay, Aug 7, 19:16:59
- it's not made of tinennymore soz (General Chat) - Tombs, Aug 7, 19:20:05
- Oh fuck. (General Chat) - Arizona Bay, Aug 7, 19:23:01
- sorry but i've just spent it all on alumiumiomnion foil (General Chat) - Tombs, Aug 7, 19:25:42
- Oh fuck. (General Chat) - Arizona Bay, Aug 7, 19:23:01
- it's not made of tinennymore soz (General Chat) - Tombs, Aug 7, 19:20:05
- x (n/m) (General Chat) - Jumbo1, Aug 7, 19:16:37
- Tin. Seriously. Sell your house and buy tin. (General Chat) - Arizona Bay, Aug 7, 19:16:59
- It'll be service based so neither really, although closer to cash rich I guess. (General Chat) - megson, Aug 7, 19:14:24
- Then be a sole trader... (General Chat) - Larry Hagman, Aug 7, 19:25:59
- You can - if you can dedicate a room as "your office" all the better... (n/m) (General Chat) - Old Man, Aug 7, 19:27:31
- And the fewer the number of rooms in the house the higher the percentage (n/m) (General Chat) - Larry Hagman, Aug 7, 19:32:26
- Excellent sounds good, thanks guys. (n/m) (General Chat) - megson, Aug 7, 19:37:14
- ^^^ this is how the Starbucks type tax avoidance starts... (General Chat) - Ralf Scrampton, Aug 7, 19:55:03
- Fuck it, i've been PAYE all my life so far so I've had to pay my tax. Its my bloody turn (General Chat) - megson, Aug 7, 19:58:55
- ^^^ this is how the Starbucks type tax avoidance starts... (General Chat) - Ralf Scrampton, Aug 7, 19:55:03
- Excellent sounds good, thanks guys. (n/m) (General Chat) - megson, Aug 7, 19:37:14
- And the fewer the number of rooms in the house the higher the percentage (n/m) (General Chat) - Larry Hagman, Aug 7, 19:32:26
- You can - if you can dedicate a room as "your office" all the better... (n/m) (General Chat) - Old Man, Aug 7, 19:27:31
- Then be a sole trader... (General Chat) - Larry Hagman, Aug 7, 19:25:59
- Physical silver not gold. (General Chat) - Tony Martin, Aug 7, 19:14:36
- I'm ltd and I got all my info of here... (n/m) (General Chat) - hoolahan, Aug 7, 18:56:00
- Steveotbc was the guy who posted this... (General Chat) - hoolahan, Aug 7, 19:09:07
- The tax you save is NICs (General Chat) - Old Man, Aug 7, 19:31:10
- Thanks for this, interesting stuff I'll have a look. (n/m) (General Chat) - megson, Aug 7, 19:11:27
- Some clever poster sort me out will try find it for you (n/m) (General Chat) - hoolahan, Aug 7, 18:56:23
- Steveotbc was the guy who posted this... (General Chat) - hoolahan, Aug 7, 19:09:07
- Depends what your trade is. What do you do? (General Chat) - Old Man, Aug 7, 18:55:57
- The plan is to do some work with SME's around their training, people development, process (General Chat) - megson, Aug 7, 19:16:26
- For that kind of consultancy I'd look at ltd (General Chat) - Old Man, Aug 7, 19:25:43
- Good advice on for services vs services, can I ask why you'd recommend ltd? (General Chat) - megson, Aug 7, 19:44:28
- That approach is also fine (General Chat) - Old Man, Aug 7, 19:52:45
- Excellent thanks that's really helped. (General Chat) - megson, Aug 7, 20:00:50
- That approach is also fine (General Chat) - Old Man, Aug 7, 19:52:45
- Good advice on for services vs services, can I ask why you'd recommend ltd? (General Chat) - megson, Aug 7, 19:44:28
- For that kind of consultancy I'd look at ltd (General Chat) - Old Man, Aug 7, 19:25:43
- The plan is to do some work with SME's around their training, people development, process (General Chat) - megson, Aug 7, 19:16:26
- Expect Tuddles will know a bit about that. (General Chat) - Arizona Bay, Aug 7, 18:55:44
- I have been both... now own Ltd company. (General Chat) - promethian1, Aug 7, 20:21:06
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