24-04-12, 04:51 PM
I have been limited for 16 years and it has served me well. Got involved with Umbrella companies when doing a foreign contracts with a UK based company.
Some good advice on here. A good accountant is key i have had mine for 12 years my 1st was a complete balloon cost me thousands in unnecessary tax. But remember a bog standard accountants job, in my view, is to ensure you pay the right amount of tax! The other advice you have been given on here about them having to declare to the HMRC if you are suspect is spot on. I took the view 7 years ago that their main role was working for the Inland revenue and companies house and then worked from there.
the other thing you need to consider is what rate you will be charging out at £300+ then you not only need a good accountant but an IFA as well. £500+ think about a tax accountant cos they are worth their weight in gold.
My IFA setup pensions insurance etc that reduced corporation tax bills etc.
Some good advice on here. A good accountant is key i have had mine for 12 years my 1st was a complete balloon cost me thousands in unnecessary tax. But remember a bog standard accountants job, in my view, is to ensure you pay the right amount of tax! The other advice you have been given on here about them having to declare to the HMRC if you are suspect is spot on. I took the view 7 years ago that their main role was working for the Inland revenue and companies house and then worked from there.
the other thing you need to consider is what rate you will be charging out at £300+ then you not only need a good accountant but an IFA as well. £500+ think about a tax accountant cos they are worth their weight in gold.
My IFA setup pensions insurance etc that reduced corporation tax bills etc.