How much to live on

Savvy_Sue

helensbiggestfan said:

When my husband became self employed and we set up our own company we employed an accountant, a legal requirement as we were a limited company.  

Actually I believe not. Usually strongly advised, at least initially, because filing company accounts can be tricky, and you don't know what you don't know. And as you discovered, there are options, and choosing the right ones can make a huge difference. 

You DO have to have a business bank account.

helensbiggestfan

Thanks for the clarification.   I was under the impression it was mandatory, so thanks for putting me right.  You learn something every day. 😁. 

Speaking of learning ....I have discovered a guy called Financial Historian on you tube.  I'm learning all sorts of stuff.