[smearo]

hi all
my accountant today has advised me to go limited...
how many of you guys already are ? and also what are the pros and cons of
being a limited company
cheers wayne

[poleman]

I'm ltd! went 6 years ago!

Yes good points! but I would say no don't do it! why! lots more paper work! just keep it simple!

[smearo]

cheers for input poleman
do you not have a accountant?
the 1st £10-000 tax free sounds appealing to

[Pope vader]

since when is the first 10k tax free?

[poleman]

down side! if you went ltd and didn't like it and went back to self employed! then in law your have to buy back everything you already own!

[britishwill]

10k tax free... come on!  Maybe  6 years ago...............

[smearo]

i googled the pros and cons and this was one of the pros
plus my accountant has told me i should save x amount each year

[Blue Frog Systems]

If you trust in what your accountant is telling you, then go for it.

[groundhog]

I expect it means more money for your accountant!!! so be careful!! 

[groundhog]

Hey Smear, I just checked out your website... its very professional and everything, but I have to say there is one thing I don't like.. and thats the business name 'Smear Free' the reason is that smear is a negative word, I think you would be much better off using words such as 'sparkle' 'Gleam' 'Shine' etc. Sorry I know it has nothing to do with the thread, but I just felt I had to say something!! 

[Pole 2 Pole]

True......but it only reminds me of a test that women have one a year......ok.....I'll shurrup :-) but it doooooo.

[smearo]

any more thoughts on the ltd side of thing peeps

[Steve CM]

i have gone LTD and as from the 1st of July all my domestic prices will have 20% vat added to them...wish me luck

[groundhog]

True......but it only reminds me of a test that women have one a year......ok.....I'll shurrup :-) but it doooooo.

I wasn't going to mention that one!!!!! 

[edward1]

groundhog/well pointed out .and polite to.

steve cm
 be careful ,just increase your prices and dont tell your custys its vat.they dont like vat one bit.i had multimillionairs moaning about it ,but were happy for me to increase the price as long as it wasnt vat.
also have you looked at the flat rate method .it works for me.
 

[stevenpaulmatthews]

i have gone LTD and as from the 1st of July all my domestic prices will have 20% vat added to them...wish me luck

Why didnt you just start another company that was limited and vat reg and charge your commercial work the 20% vat and you your existing company as domestic only, not limited or vat reg not having to raise your domestic customers prices

[groundhog]

groundhog/well pointed out .and polite to.
 

Thanks Edward, I didn't want to be rude... but somebody had to tell him!!!!!!!!!! 

[smearo]

ground idiot
what is the name of your company?

[groundhog]

ground idiot
what is the name of your company?

Thats not very nice!!, I was trying to give you some advice... just ignore it if you don't like it, the name just sounds wrong to me!! sorry!!!

[outdoor restore]

i have gone LTD and as from the 1st of July all my domestic prices will have 20% vat added to them...wish me luck

Why didnt you just start another company that was limited and vat reg and charge your commercial work the 20% vat and you your existing company as domestic only, not limited or vat reg not having to raise your domestic customers prices

Do not do this unless you have spoken to your accountant, we were told by ours that the taxman would consider it "artificial separation" or something like and is not allowed.