why will accountants not advise me

network

Dear All
I want to form a limited company for my businesses to ensure that i do not have any hassle from the tax credit people who seem to be able to able to get the simplist thing wrongs and cometo you with their hands out.( Currently i do counselling, writing, and trainee mortgage consultant including protection and general insurance) I am already engaged in all three areas and will go into profit at the end of this year.
Because i am a single parent i qualify for much needed tax credits for child care, but a member of out team has been stung rather heavily by the tax credit people who because she has varying incomes (which she told them about by phone and letter each time there was a changed) got their sums wrong and demanded a "so called" overpayment which she was unable to pay back within the required time and they took her to court.
To avoid this i want to become limited, i can pay myself a set wage each month, so ensuring that the tax people cannot get their sums wrong and get me into the same probs experienced by my collegue. I have tried to explain this to an accountant who thinks it is not worth it "we'll just keep an eye on it"
Am i the only person who can see the sense in this, or am i missing a point. whatever hassle there is in setting up and running a limited company cannot be bigger thatn dealing with the might and ineptitude of the tax credit people.
many thks

kinsington

If you want to set up a Limited company, then just do it. It is straight forward and a little searching on the web will find web sites that form companies online for around £30-40 in a few hours. You then have to file the documents Companies House requires from you every year. If you are a very small company, I think you may even be exempt from filing accounts which are audited by an accountant. You must still keep accurate enough records to complete your tax return. I suggest you should check with someone like Businesslink www.businesslink.gov.uk or the Federation of Small Businesses www.fsb.org.uk

Hazzo

I guess that money might be an issue for you so try the following for cheap online company formations http://www.uk-plc.net/companyformation/?utm_source=google&utm_medium=cpc&utm_term="company+formation"

Also, do check out Companies House for booklets on responsibilities

http://www.companieshouse.gov.uk/

Merlin_Accounts

kinsington wrote: »

If you want to set up a Limited company, then just do it. It is straight forward and a little searching on the web will find web sites that form companies online for around £30-40 in a few hours. You then have to file the documents Companies House requires from you every year. If you are a very small company, I think you may even be exempt from filing accounts which are audited by an accountant. You must still keep accurate enough records to complete your tax return. I suggest you should check with someone like Businesslink www.businesslink.gov.uk or the Federation of Small Businesses www.fsb.org.uk

Sorry to be the bearer of bad news but no UK registered limited company is exempt from filing its accounts with companies house - even a dormant company has to file them each year!

The downside of cheap online formations is you get no professional advice about shares, responsibilities, advantages/disadvantages, or eveb advice as to whether or not its what you need! You pays your money you takes your choice!