Re: FN-FORUM: Limited or sole trader

date posted 5th August 2007 01:00

That entirely depends what the debts are.

Owe the taxman and they can bypass all that limited company rubbish and
charge you directly...



> *From:* [EMAIL REMOVED] [EMAIL REMOVED]
> *To:* "FN-FORUM / [EMAIL REMOVED] [EMAIL REMOVED]
> *Date:* 4 Aug 2007 21:00:43 -0000
>
> I should go Ltd. It doesn't cost much to register and if you go
> bust and you are Ltd then they can only take things belonging to
> the company to pay the debts off and not your house for example.
>
>
>
> Pam
>
>
>
> >
> > I've been freelancing for about a couple of years now and I
> > handle all my
> > tax as a sole trader, putting in my self assessment into the
> > inland revenue
> > at the end of the year. I used to do a lot of contracting before
> > I started
> > freelancing and always used an umbrella company to help with the
> > tax. I've
> > been offered a 3 month contract by an agency with a nice £per
> > hour payout
> > which I'd be stupid to turn down. I've still got my account with
> > giant
> > (which I found to be one of the best I've used).
> >
> > Thing is I'm so used to doing my own tax that for someone else to
> > do it for
> > me seems a bit foreign. Is it worth me registering a Private
> > Limited
> > Company with company house? Are there any advantages to me as a
> > self
> > employed person to go limited as opposed to declareing my own
> > stuff for the
> > freelancing and using an umbrella for any contracts I may pick
> > up. This is
> > my first agency contract job for over a year and I'm not going to
> > be looking
> > for many when I can still earn a decent living from home.
> >
> >
>
>
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