Leaving work, limited company in 2 months, Sole trader in the meantime? Help!

214jay

Hi there

Thanks in advance for any help anyone can offer.

I will soon be finishing work to setup a limited company with my partner, for various reasons there will be a delay of two months before we are able to get this on the ground.

In the meantime I will be undertaking a few odd jobs to get the money in (clearly I want to do it the legit way) so my question is do I need to register as a soletrader? If so will this be quite complicated as it will only be for two months and then I will be a director of the new limited company.

Thanks for your help.

Jay

Gertie_Walker

Yes, you ned to register as self employed - it is not complicated, you just ring the helpline. Your self employed accounts will go on your SA for this year along with your earnings to date and your director's remuneration.
Notify HMRC when the self employment ceases so that you can stop paying c lass 2 NIC.

214jay

Excellent, I thought that was the case.

Thanks

Jay

214jay

Thanks n_kam

Do you work for them by any chance, i'm always dubious of online systems like this? If not, what was your experiences with them?

Premier_2

214jay wrote: »

Thanks n_kam

Do you work for them by any chance, i'm always dubious of online systems like this? If not, what was your experiences with them?

Probably. The poster appears to be pushing the sevices of that company in his last 6 posts (which ain't bad going when the poster has only made a total of 7 posts)

paulwf

You could set the Ltd up now and use that to raise invoices then put yourself on the payroll. Obviously check with your accountant first.

214jay

Premier - thats what I thought, I saw all of the posters promotional posts!

PaulWF - Thanks, unfortunately I cannot setup the ltd company yet...I will be setting up with a partner and they are stuck in a contract for next month or two, slightly complicated but would be more beneficial setting up at the time when were both available.