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Post Info TOPIC: Ltd or Self employed ?
Adrian99


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Ltd or Self employed ?
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Hello Everyone.

Please if someone could help me as I am not sure if it is worth it to keep my Ltd. Company. 

I work in Construction and I earn around £ 20 k net in a year.

It is only me in the company and I do all the work.

I have a limited company and I pay myself a monthly salary of £680 a month and the rest I take as dividends.

I pay the accountant £480 / year.

In my situation is it tax wise to keep the company or should I close the company and register as self employed ?

 

Many thanks !

Merry Christmas and a Happy new year ! biggrin

 

Adrian

 

 

 

 



__________________

This is just my personal opinion. Advice should be sought from a suitably qualified Accountant.

 

P.S. I only ride a motorbike because I want to dry my clothes faster 
Artois


Guru

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Posts: 1313
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Adrian99 wrote:

Hello Everyone.

Please if someone could help me as I am not sure if it is worth it to keep my Ltd. Company. 

I work in Construction and I earn around £ 20 k net in a year.

It is only me in the company and I do all the work.

I have a limited company and I pay myself a monthly salary of £680 a month and the rest I take as dividends.

I pay the accountant £480 / year.

In my situation is it tax wise to keep the company or should I close the company and register as self employed ?

 

Many thanks !

Merry Christmas and a Happy new year ! biggrin

 

Adrian

 

 

 

 

 Hi Adrian

Without meaning to sound rude, you mention that you have an accountant do you not think that this is something that you should be discussing with them



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice
Adrian99


Senior Member

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Posts: 361
Date:
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Hello Doug, you are definitely right, I was just looking for a second opinion.

Many thanks,

Happy Holidays ! :)



__________________

This is just my personal opinion. Advice should be sought from a suitably qualified Accountant.

 

P.S. I only ride a motorbike because I want to dry my clothes faster 
Leger


Master Book-keeper

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Posts: 3904
Date:
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Hi Adrian 

There won't be a great deal in it to be fair, but I agree with Doug, this is one of the things your accountant is there for.

PS The gap will be even narrower next year when the tax free dividend allowance falls from 5k to 2k.  



__________________

John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Adrian99


Senior Member

Status: Offline
Posts: 361
Date:
Permalink Closed

Many thanks Leger and a Happy New Year !

I really appreciate your answer.

Merry Christmas. :)

Adrian

__________________

This is just my personal opinion. Advice should be sought from a suitably qualified Accountant.

 

P.S. I only ride a motorbike because I want to dry my clothes faster 
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