Excellent Advice from SimonOTBC

My Accountant advised me to switch from sole trader to limited company status when I became self employed over 10 years ago.
On balance I have found that the tax savings outweigh the additional accountancy fees, general hassle ref extra admin etc.
Operating as a limited company also means that my house, car etc is safe if the business goes belly up.
Need to bear in mind that HMRC are very hot on limited companies complying with all the rules due to to `shell companies`being set up to avoid tax etc.
As SimonOTBC suggests need to talk to an expert.

Posted By: Barclay_Regular on September 3rd 2012 at 09:43:47

Message Thread

Self employed or limited company? (NCFC) - hoolahan, Sep 3, 08:57:48
- But be careful (NCFC) - paulg, Sep 3, 11:08:44
- There's no easy answer on this (NCFC) - SimonOTBC, Sep 3, 09:12:01
  - No work threw an ordinary oil and gas agency?! (n/m) (NCFC) - hoolahan, Sep 3, 09:16:31
    - Ah ok (NCFC) - SimonOTBC, Sep 3, 09:32:43
      - brilliant (NCFC) - dr fanta, Sep 3, 10:30:28
      - Excellent Advice from SimonOTBC (NCFC) - Barclay_Regular, Sep 3, 09:43:47
        
        Agree, also a good accountant is a must, when I was contracting .. (NCFC) - colincanary, Sep 3, 10:01:49
      - Nice 1 will have a read... Most of my mates do it.. Just really don't know which is (NCFC) - hoolahan, Sep 3, 09:39:32

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