I am self employed, and trade as a sole trader.
I also have a dormant Ltd company.
Companies house have told me that as soon as I start trading the Ltd company stops being dormant, I do not need to inform them as soon as I start trading Ltd.
I have issued invoices as a Ltd Co. as I need the Ltd status for certain parts of my job where I install things I make - and wish to limit my liability in case in the unlikely event something I install hurts someone and there is a claim against me (I already have Public Liability insurance for th Ltd Co.).
I have so far issued invoices for the install under the Ltd co. and the goods I supply as a Sole Trader.
I guess at my Year End when I need to submit accounts for the Ltd Co. is when I need to account for all the sales under Ltd.
Can I trade as a Sole Trader and Ltd at the same time like this.
I also do my own Tax Return as Self Employed, do I need to use an Accountant to prepare figures for Company House, and how do profits and tax (I assume it would be corporation tax) work with my tax return. I have run Sage Financial controller to manage my financial affirs, and used it to prepare P&L & BS's - I have also read a book on accounting, so know a little. Could I manage all this myself without an accountant.
Last edited by forthright; 5th May 2012 at 11:58.