On Tue, 20 Mar 2001, you wrote:
> On Tue Mar 20 11:46:25 2001, Gareth Harper wrote:
> > On a completely off topic note I'm appealing to the contractors among you
> > here. Those of you who have yor own company. Did you set yourselves up as
> > a Limited Company, or as a Sole Trader. If you set yourself up as a limited
> > company did/do you have liability insurance etc.
>
> Limited Company. Clients and agents all seem happier when dealing with
> a Limtied Company. Many just assume you have one and you could have a
> few problems getting paid if you don't.
apart from that the benfits of running as a Limited Company are large
(ish) assuming you can escape from the clutches of IR35. by careful
handling of the way you do things your overall tax and NIC burden can be
'effectivley managed' and you should see 80~85% of what you earn actually
ending up in your pocket.
If the money was paid to you as a salary you'd be lucky to see 50% of
it. It also reduces the NIC burden on the employer... by removing the
12.2% employers contribution, so they can afford to pay you even more :))
So Limited Company everytime if you can .. works best for both sides. The
costs of setup are small, the costs (in terms of time to admin it) is
small (1 hour a week max, plus a couple of days at some poin tduring hte
year to get it all together and hassle the accountant) but the benfits,
financially are significant.
--
Robin Szemeti
The box said "requires windows 95 or better"
So I installed Linux!
