- Original Poster
- #1
Hi, I hope that some kind souls may be able to advise me, I sell bits and pieces online, mostly my own stuff, however the nature of the business for whom I work means that a lot of technical equipment is soon to be scrapped.
Most of this is still serviceable, quite high value (in the thousands of pounds) and freely available to me.
I plan to continue to be employed, but by selling it online, most of the proceeds are profit and therefore fully taxable, I need to find a financially pain free route!
I read that the first 10k profit of a limited company is tax free, is that true?
My operation would have no employees, no purchases, just sales, (possibly the expense of 1 room in the house for admin). Would the tax return be straight forward?
Is there a software package that would compile limited company returns, or perhaps even Contractors Admin Support Companies.
Can anyone suggest a good site 'incorporation for dummies' please?
Many thanks in advance.
Most of this is still serviceable, quite high value (in the thousands of pounds) and freely available to me.
I plan to continue to be employed, but by selling it online, most of the proceeds are profit and therefore fully taxable, I need to find a financially pain free route!
I read that the first 10k profit of a limited company is tax free, is that true?
My operation would have no employees, no purchases, just sales, (possibly the expense of 1 room in the house for admin). Would the tax return be straight forward?
Is there a software package that would compile limited company returns, or perhaps even Contractors Admin Support Companies.
Can anyone suggest a good site 'incorporation for dummies' please?
Many thanks in advance.
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