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Limited Company - Please Help!!
cassie-jack
Posts: 1 Newbie
Hi.
I hope someone off this site can help.
My husband has recently got himself a great job working at an RAF base for BAE systems. He was told he would be paid through Morsons agency and that he would be self employed. As I have just filed my tax return due to being a self-employed Security Guard, we were happy with this as it was so easy. I was a sole trader.
However, today my husband has been informed that they will not allow him to be a sole trader, their reason for this, is that they have had people before that have not paid their tax bill, so they will only let him register as a Limited Company, which we do not know much about. The other road he can go down is to let an umbrella company (I think that what it's called) to handle his pay. However, things don't seem to work out. They will charge him £18 per week for their fee, and he will also pay £47 per week tax and £19 plus £16 NI per week. This has highly confused us. Basically, he will be more than £100 worse off in his weekly wage. Having just filed my tax form, we realise that this amount seems extremely high.
Do you have any ideas on this please?
Also, they have told him that if he decides to set up a Ltd company, then it will take around 5 weeks, so therefore he will not get paid for that length of time. It seems to us to be a rip off and that they are trying to push him towards this umbrella company.
Many thanks for your time,
Kaz
I hope someone off this site can help.
My husband has recently got himself a great job working at an RAF base for BAE systems. He was told he would be paid through Morsons agency and that he would be self employed. As I have just filed my tax return due to being a self-employed Security Guard, we were happy with this as it was so easy. I was a sole trader.
However, today my husband has been informed that they will not allow him to be a sole trader, their reason for this, is that they have had people before that have not paid their tax bill, so they will only let him register as a Limited Company, which we do not know much about. The other road he can go down is to let an umbrella company (I think that what it's called) to handle his pay. However, things don't seem to work out. They will charge him £18 per week for their fee, and he will also pay £47 per week tax and £19 plus £16 NI per week. This has highly confused us. Basically, he will be more than £100 worse off in his weekly wage. Having just filed my tax form, we realise that this amount seems extremely high.
Do you have any ideas on this please?
Also, they have told him that if he decides to set up a Ltd company, then it will take around 5 weeks, so therefore he will not get paid for that length of time. It seems to us to be a rip off and that they are trying to push him towards this umbrella company.
Many thanks for your time,
Kaz
0
Comments
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You really need to get an accountants advice on this. We have just changed from partnership to limited and our accountant looked at our accounts and gave advice as to whether becoming ltd was best for us from our accounts.0
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you should be able to setup / buy an 'off the shelf' ltd co, and run things easily yourself, as the only customer / asset!Long time away from MSE, been dealing real life stuff..
Sometimes seen lurking on the compers forum :-)0 -
Another great source of free expert advice is your local Business Link - try this link below:
http://www.businesslink.gov.uk
Find your local office and go along and have a chat - they can save you a lot of time and effort to find the right advice.
HTH0
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