tag:blogger.com,1999:blog-7615782020735321095.post2435019235338629103..comments2024-03-22T10:01:23.989+00:00Comments on Wargaming for Grown-ups: Real Life part 17 (most likely)Trebianhttp://www.blogger.com/profile/02221916804339000102noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7615782020735321095.post-53123307213727223512012-04-28T00:30:26.114+01:002012-04-28T00:30:26.114+01:00Best of luck with your venture, I expect it will b...Best of luck with your venture, I expect it will be an adventure!<br /><br />JimJim Duncan Wargamerhttps://www.blogger.com/profile/14114076455087495681noreply@blogger.comtag:blogger.com,1999:blog-7615782020735321095.post-32157469844939231482012-04-24T09:44:27.031+01:002012-04-24T09:44:27.031+01:00I'm off to see the accountant on Thursday. It&...I'm off to see the accountant on Thursday. It's all very exciting.Trebianhttps://www.blogger.com/profile/02221916804339000102noreply@blogger.comtag:blogger.com,1999:blog-7615782020735321095.post-83307630761725661052012-04-23T15:02:11.049+01:002012-04-23T15:02:11.049+01:00Trebian,
Running a limited liability company is a...Trebian,<br /><br />Running a limited liability company is a piece of cake ... as long as you get all the paperwork done correctly. I set mine up in a day by using an agent.<br /><br />Once I had the paperwork it was simple to sort out the bank. HMRC are, however, a different ball-game, and I would strongly advise you to take advice from a good accountant. They will also give you advice about how to avoid the pitfalls of IR35.<br /><br />They will also give you advice about whether or not you need to register for VAT. I had to as local government departments (and hence schools and colleges) will not award you contracts unless you are VAT registered.<br /><br />Funnily enough I am in the process of winding my company down, as both my wife and I are going to stop working after this Summer. Ironically I have just taken on a new employee. He is an ex-colleague who is in the same boat as you but who cannot be bothered to set up his own company. I employ him and charge him a percentage fee to invoice for the work he does and to handle his income tax and NI. He tells me what he has done, I invoice for the work, they pay me, and I pay him ... and make a small profit from the transaction. Can't be bad, can it?<br /><br />Good luck with your new venture. After all, you can now call yourself a consultant (but make sure that when you tell people that, that you also tell them that you are not a doctor!) as well as a managing director and chief executive.<br /><br />All the best,<br /><br />BobRobert (Bob) Corderyhttps://www.blogger.com/profile/13109130990434792266noreply@blogger.com