Setting up a Public Limited Company

Discussion in 'SMB' started by TheWanderer, Sep 18, 2018.

  1. Paddy O'Dors

    Paddy O'Dors Striker

    Private Limited Company doesn't need any of that shite.
  2. Bob Fleming

    Bob Fleming Striker

    I'm inside IR35 at the moment but use as my umbrella company. Have to say that part of their service has been superb. I've heard some awful reports of other umbrella companies from other lads. Basically they pay on time every time and always make the rights checks to ensure you're not overpaying tax.
    They have a Ltd company service too including setting it all up for you. Worth having a look but I can't vouch for that part as not Ltd myself.
    janey and TheWanderer like this.
  3. andy

    andy Striker

    I was really disappointed with them at The Point.
  4. TheWanderer

    TheWanderer Striker

    Fucking hell, using their calculator there’s a hell of a difference in your take away dosh from umbrella and limited company!!!
  5. Bob Fleming

    Bob Fleming Striker

    Huge mate aye. Well worth it if you can. Unfortunately I'm on a Gov contract and they won't allow it.

    Mind when they brought the ruling in they increased the pay so they're spending as much on wages. Bur I guess more comes back in as tax.
  6. Patch

    Patch Winger

    He wants to be listed on the Stock Exchange is all I can guess.
  7. riffraff

    riffraff Striker

    Wanderer Ltd.
    Incorporated on June 4th 2018.
    Too late was the cry.

    Wanderer Information Technology Ltd is still up for grabs. aka WIT Ltd. no laffin at the back please.

    Mackem Ltd was incorporated on 23 April 2018! Hmmm stew and Charlie? Or mebbes Micky grays mob?

    Tunstall information technology ltd is available. TIT Ltd.
    Tunstall Not Silksworth Ltd is up for grabs anarl.
    Last edited: Sep 18, 2018
    Butcher's Coat likes this.
  8. stapler

    stapler Full Back

    "The Wanderer Avoids Tax ltd" is nicely descriptive (as is the acronym).
  9. Hue Jorgan

    Hue Jorgan Midfield

    Wanderer Audit Nano Kintetics ltd
  10. janey

    janey Striker Contributor

    I used Paystream when I set mine up, when I went agency. They stopped the inside IR35 position for what I do, so I don’t use it anymore but it is a massive difference in money. I didn’t have a clue either was dead easy setting up the PLC through these, they were very helpful.
    They then have an on-line system and you can check your income/dividends and they tell you how much you can withdraw.
    Also can upload receipts and mileage etc.
  11. Spennymackem1981

    Spennymackem1981 Midfield

    Umbrella company - ClearSky
  12. A plc IS a limited company iirc

    Can’t remember which, but one of the letters in plc stands for limited
  13. RTGAdmin

    RTGAdmin Administrator Staff Member

    Get your contract agreed first, then sort out the company. An accountant can sort out an off the shelf limited company for you in no time.

    You do really need a decent accountant if you run a limited company. The accounts won’t be complicated, but they can keep you right on all of the legal and filing arrangements that you need to comply with.
  14. SAFC2403

    SAFC2403 Winger

    I used an umbrella as tbh it sounded like a right pain in the arse to go limited company - however you need to be very careful in terms of tax etc as HMRC are going after contractors as they have been taking the piss for years.

    I suppose it depends how long you are going to be contracting - i saw it as a short term thing so went umbrella.
    TheWanderer likes this.
  15. MackneyHackem

    MackneyHackem Midfield

    Aye but not all limited companies are plc.
  16. TheWanderer

    TheWanderer Striker

    With my clear lack of knowledge around anything limited company and taxes, I’ve decided umbrella is the way to go!

    Thanks for all the advice!
  17. MackneyHackem

    MackneyHackem Midfield

    It's the easiest option if you're going freelance for the first time and you're just testing the water. Did you go with Parasol in the end?
  18. TheWanderer

    TheWanderer Striker

    Looking very likely I’ll use Parasol
  19. MackneyHackem

    MackneyHackem Midfield

    There's another one called Atlantic and a lad from here works for them if you're still shopping about.
  20. If it helps, I've just set up a Limited Company for a business venture I'm launching soon .. 10 minutes online, £12.00 - bosh.

    It's not a PLC, though (obvs)

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