Discussion in 'Business & Tax Advice' started by ShadeDream, Mar 28, 2009.
unless you are making more than 40k per year the costs and hassle of setting up and running the ltd co would not really be worth it. Do you think you can make more than 40k per year? If not I would do everything in your own name. If you are worried about tax go and see an accountant. most will see you for a free consultation. Don;t worry about discussing BH methods, to an accountant making money is making money, as long as its legal.
What are your reasons in wanting to start a LTF co anyways? I'm guessing its not for tax purposes?
Just noted that you are only 17...is that right??
Do you have a business bank account because you will need one for a LTD.
The company secretary is now optional as the rules changed in 2008.
However, I think that you have to have your accounts audited every year.
Seems a whole lot of hassle to me. I'm a sole trader and find that far easier...you can still have a company name.
Great advice. I think I will stick to a UK LLP.
But my main problem is that I'm 17 therefore I cannot legally have a business bank account.
Edit: @simey69 - Have you got any advice on this site? http://www.completeformations.co.uk/limited-liability-partnerships-llps.html
I myself think it's a great deal but I was wondering what you would say? Thanks.
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