Financial Advice

[SupaMax]

Looking for or someone with relevant expertise and/or experience to discuss the the following:

1. Been in full time employment since 2001.
2. Been a sole trader since 2003 when I set up a business as a hobby.
3. Business has grown and I'm now looking to employ a member of staff (whether or not to setup a partnership?).
4. Ending full time employment but will continue to work for my company as a contractor (whether or not to setup a seperate company for this line of business or to keep everything under the company I set up in 2003?).
5. Whether or not to setup a limited company?

Would be great to hear from you.

Neil

 

[jholden]

Hi Neil,

What you need to do is to talk to an accountant and pay for this advice.

There are many of us (accountants) on here, just pick one and go ....

Jason

 

[SupaMax]

Of course...although I've spoken to a few accountants already who haven't been very helpful!

Are there any non-accountants out there who have been through a similar situation?

 

[jholden]

I find it hard to believe they were not helpful as what you are asking for advice on is not exactly difficult?

Jason

 

[Kent Accountant]

Of course...although I've spoken to a few accountants already who haven't been very helpful!

Are there any non-accountants out there who have been through a similar situation?

You shouldn't rely on non-accountants to advise you on this. As Jason has said, this sort of scenario should be bread and butter to an experienced (preferably qualified) accountant as there are a number of potential pitfalls such as IR35, whether incorporation is appropriate and, if so, the timing of the incorporation

 

[Anna Chandley]

Of course...although I've spoken to a few accountants already who haven't been very helpful!

When you spoke to the accountants were you paying for the advice or was this as part of a free initial meeting.