Re: FN-FORUM: Freelance Websites

date posted 28th October 2005 22:03

Companies House filing fee is still £15 if you file electronically.

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Kathy
http://www.vendetta.co.uk
+44(0)7005 982 261
DNRC Minister for Useful but Irritating Information and Trivia
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----- Original Message -----
From: "Dawn Thomson" [EMAIL REMOVED]
To: [EMAIL REMOVED]
Sent: Friday, October 28, 2005 9:14 PM
Subject: Re: FN-FORUM: Freelance Websites


>
> Thanks for re-iterating what I said.
>
> However, costs for a ltd co. are only the annual fee (most recently £30
> payable to Companies House) and the initial set-up fee, which is
> non-recurring.
>
> I think LLP's are outwith the scope of this discussion; you'd need to read
> up
> on LLP Act, Insolvency Act etc.
>
> For free information, you can always browse:
> http://www.netlawman.co.uk/info/limited-liability-partnership.php#11377
>
> You do NOT need to be a qualified accountant to sign off your accounts to
> return
> them to Companies House.
>
> ----- Original Message -----
> From: "Nathan" [EMAIL REMOVED]
> To: [EMAIL REMOVED]
> Sent: Friday, October 28, 2005 8:55 PM
> Subject: Re: FN-FORUM: Freelance Websites
>
>
> >
> > Richard wrote:
> >> I thought it was only worth becoming an LTD company if you hold stock
> >> and earnt a fair bit? I think becoming a LTD *can* save you money in
> >> tax, but the savings might be lost in time taken to prepare accounts
and
> >> do a payrol.
> >>
> >> I suppose you need to consider how much you're earning. If you're
> >> looking at > £25k, then it probably is worth it. Also, presumably if
> >> you've got clients likely to sue you for enough that you'd loose the
> >> house over, then you're probably earning enough to make it viable to be
> >> a LTD company anyway?
> >
> > No matter how much you earn then one of the best reasons for becoming a
> > LTD company is for liability reasons.
> >
> > If you do something for a client and the client decideds to sue then if
> > you are a sole trader then YOU are liable. This means they could claim
> > your car, house etc... This is the same for partnerships (though all or
> > just some partners can be liable depending on your partnership
agreement)
> >
> > With a LTD company then its the company thats liable and they can only
> > claim back against company assets. i.e. your house/car are safe
(assuming
> > you didn't purchase them through your business)
> >
> > Then there are Limited Liability Partnerships. On advice from an
> > accountant and a lawyer these are best avoided.
> > They were created for solictors as they didn't want the liability of a
> > partnership but wanted some of the flexibility (not sure on the actual
> > details). Anyway they have not been tested in court, and there are
various
> > ways that a partner can be wholely liable. This matters not really as
most
> > people won't attempt to sue solicitors as they normally have all bases
> > covered ;)
> >
> > LTD has been properly tested in court. The latest example being the
> > hatfield disaster where none of the directors were held liable, only the
> > company.
> >
> > The downsides of becoming a LTD company is cost (its something like £120
a
> > year) plus you have to have a qualified accountant (yet more cost) sign
> > off your accounts so they can be sent to companies house.
> >
> > Personally my company will becoming LTD shortly once we sort out some
> > other things.
> >
> > Nathan
> >
> > --
> > Freelancers, contractors earn more with Prosperity4
> > Call 0870 870 4414 or visit www.prosperity4.com
> > and benefit from Inland Revenue approved expenses today.
> >
> > To advertise here: http://www.freelancers.net/advertising.html
> >
> >
> --
> Freelancers, contractors earn more with Prosperity4
> Call 0870 870 4414 or visit www.prosperity4.com
> and benefit from Inland Revenue approved expenses today.
>
> To advertise here: http://www.freelancers.net/advertising.html
>
>