Setting up a Public Limited Company

How you do it?
Easiest way is get an accountant to do it for you, takes all the guesswork out of it and they can give you advice if it's best to have a limited company or as a sole trader. Typically they'll take an off-the shelf company from a company who specialise in this then rename it and do all the paperwork to transfer it to your name. You'll probably want someone set up as the company secretary who is responsible for doing all the returns to Companies House. Any good accountants will have a package for such start ups and can also do your year end accounts, company returns etc. at a reasonable cost.

Good tip, always make sure you sort HMRC for tax & VAT before anyone else. Don't be greedy, be honest and you'll do well. Don't neglect your pension, easy rule of thumb is every £1 you earn, expect to see no more than 50p for you and you'll not go far wrong.

For the IR35 piece if contracting to a single customer, you could also consider looking at umbrella companies but do some research as there are good and bad around
 


Venturing into the world of IT contracting


Had all sorts from here man! There’s plenty of absolute bollocks on here, but also plenty of help.

That’s not a Plc mate. You want to set up a limited company.

Contact Parasol they’re what i’ve used to get paid as using them as an umbrella company and as a sole trader and they’re a big name so you’ll not have any hassle.

Public limited company man you daft arse. :lol:

How you do it?
Specialist Limited Company Accountants For UK Contractors
 
This. You still may be treated as being under ir35 as this depends on your contract. You can take out insurance against an hmrc investigation/fine etc.

If you are setting up a legit it company then you needn’t worry about ir35.
@TheWanderer you’ll also need indemnity insurance

Approach any accountant and he will register you with companies house. You can then open your business bank account and that’s the bulk of it done
 
That’s not a Plc mate. You want to set up a limited company.

Contact Parasol they’re what i’ve used to get paid as using them as an umbrella company and as a sole trader and they’re a big name so you’ll not have any hassle.

Public limited company man you daft arse. :lol:


Specialist Limited Company Accountants For UK Contractors
That’s why I need some advice man, I’m f***ing clueless when it comes to tax and this shit.
 
Set up a private limited company

Is it really that simple? Appoint yourself as director and 100% of the shares?

Then when I get my first contract, get an accountant to sort the finances out?

Speaking to an agent today she said I’d need a limited company already setup before she puts me forward for roles.
Yes. You need an accountant to sort out tax companies house etc
You will need a business bank account but can get this once you have the certificate of incorporation. All done online.
 
Set up a private limited company

Is it really that simple? Appoint yourself as director and 100% of the shares?

Then when I get my first contract, get an accountant to sort the finances out?

Speaking to an agent today she said I’d need a limited company already setup before she puts me forward for roles.

Go to the BIC over Suddick, they'll do it for nowt and give you ongoing help. It was made easier in 2010, used to be a bit of a fanny on with notaries/solicitors. Also had to have a company secretary but that is no longer obligatory.

Businesses don’t pay taxes according to the socialists

Big multinational businesses don't pay their share I think is the main gripe.
 
PLCs must:
  1. have at least two shareholders.
  2. have issued shares to the public to a value of at least £50,000 or the prescribed equivalent in euros before it can trade.
  3. be registered with Companies House.
  4. have at least two directors - at least one must be an individual.
  5. have a qualified company secretary.
I’m guessing you won’t be issuing shares to be public ? Or joe public for that matter.
 
PLCs must:
  1. have at least two shareholders.
  2. have issued shares to the public to a value of at least £50,000 or the prescribed equivalent in euros before it can trade.
  3. be registered with Companies House.
  4. have at least two directors - at least one must be an individual.
  5. have a qualified company secretary.
I’m guessing you won’t be issuing shares to be public ? Or joe public for that matter.
Think it’s pretty obvious I didn’t have a scooby what I was talking about!
 

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