StratApproach started this topic @ 17:09 on 14/06/2004
Hi Guys,
After a bit of advice, please...
I've just finishing a 12 month contract with a company and have been fortunate enough to be able to work on a freelance basis for another month on a day rate. 12 days chargeable which fits in with my studying.
We are only talking a couple of K.
Not sure if I should invoice as a sole trader or get out of a dormant state the LTD company I registered last year.
I'm hoping to do another month on the same basis, then odd days in the future. Plus ideally work with one or two other companies (if they will let me! and I market myself etc)...I understand the issues of IR35.
If I do invoice as LTD, then any future business idea (related or not) I get off the ground could also go through over the coming year and therefore represent a larger sum of money.
Your thoughts...thanks..
RE: First invoice....as a Sole Trader or Ltd
Rich64 | 15/06/2004 12:50 AM
Hi
My thoughts are,,,everything on a solid foundation.....if you plan on continuing using the Ltd after, then Id go with that...start the way you plan on continuing.
Best of luck...Rich
RE: First invoice....as a Sole Trader or Ltd
StratApproach | 15/06/2004 09:32 PM
Cheers Rich,
Your right. Just need to get some business in now - otherwise it will look a little daft having just the one invoice through the business and finding a full-time job instead.
Thanks
RE: First invoice....as a Sole Trader or Ltd
James Smith | 16/06/2004 02:19 PM
If this is a one off it would be quite costly to put it through your ltd company in terms of time and money to comply with all the limited company requirements.
There are some tax breaks on incorporating a business that was once run as a sole trade, so don’t be put off being a sole trader for the sake of continuity.
As a rule of thumb if you are making less than about £15k, stick to being a sole trader, and incorporate when things take off.
Regards,
------------------------
James Smith
Chartered Accountant
www.jamesesmith.co.uk
01235 536 773
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Your indispensable guide to Small Business Bookkeeping, Self-Assessment & VAT
