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Paying a sole trader & ltd companies
Comments
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Nope, you'll have to be more specific. Because from where I sit, if a contractor agrees to be engaged, to provide specific services and provides me with an invoice, there is no ambiguity. If Joe Bloggs agrees to supply me with services, for which only they can provide and hands me a piece of paper with "invoice" written at the top and saying, "you owe Joe Bloggs one hundred pounds." What else I am supposed to understand?See the HMRC article for more details
The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0 -
What part of...What the parties call their relationship, or what they consider it to be, is not conclusive. It is the reality of the relationship that matters. ...
do you not understand? :huh:"Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 20100 -
CocoPopsLover wrote: »A friend of mine and myself would like to set up a ltd company. It will be an events company but at times, we may need to hire models (who are self employed), now if we have to pay them, do we have to pay any additional taxes or NI for them?
I also wanted to ask, is corporation tax due on profits that we make after all expenses have been taken into consideration or before? The information I have been reading on the net, is not so clear for me.
Hi
You will learn the tricks of the trade as you go along, its all about off setting and dividens, the only thing if it all goes wrong and you have to sign on for JSA, you cannot until your name has been taken of the ltd company.
The more you spend on the company travel, materiels, etc, etc will lower your corporation tax, You don;t need an accountant to start with but i would advise you to get one after 6 months and i hope you are up and running then. Also be careful with credit lots of companies now make you lible for the debt not your company, read the small print.
Thanks
Neil0 -
And what part of:What part of
do you not understand? :huh:If Joe Bloggs agrees to supply me with services, for which only they can provide and hands me a piece of paper with "invoice" written at the top and saying, "you owe Joe Bloggs one hundred pounds." What else I am supposed to understand?
Do you not understand? :wall:The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0 -
And what part of:
Do you not understand? :wall:
The bit that flies in the face of the advice I have already given you sourced from the HMRC website. :cool:"Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 20100
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