New Company

[Bill84]

Hi there, I am starting a new ltd company for my first contracting job, inside IR35, checked with a professional, and I have filled the shares as follows



Currency GBP - Pound Sterling
Class of share Ordinary
Amount paid up on each share 1
Amount unpaid on each share 0
Number of shares 1
Aggregate nominal value 1
Prescribed particulars Each share has full rights in the company with respect to voting, dividends and distributions.

Does that sseem ok?
Thanks
Bill

[BolshieBastard]

Hi there, I am starting a new ltd company for my first contracting job, inside IR35, checked with a professional, and I have filled the shares as follows



Currency GBP - Pound Sterling
Class of share Ordinary
Amount paid up on each share 1
Amount unpaid on each share 0
Number of shares 1
Aggregate nominal value 1
Prescribed particulars Each share has full rights in the company with respect to voting, dividends and distributions.

Does that sseem ok?
Thanks
Bill

Well apart from the fact you've gone to all that trouble of setting up a limited then declared yourself inside IR35.

[northernladuk]

Speak to an accountant. Am sure they will give you a bit of advice before you sign up with them. You need a professional to help you right now.

[JB3000]

Hi there, I am starting a new ltd company for my first contracting job, inside IR35, checked with a professional, and I have filled the shares as follows



Currency GBP - Pound Sterling
Class of share Ordinary
Amount paid up on each share 1
Amount unpaid on each share 0
Number of shares 1
Aggregate nominal value 1
Prescribed particulars Each share has full rights in the company with respect to voting, dividends and distributions.

Does that sseem ok?
Thanks
Bill

If you can't even handle something as simple as the above how on earth are you going to handle the deemed salary calculation for inside IR35 purposes; speak to an accountant immediately.

[Sausage Surprise]

Why inside IR35? Have you had your contract reviewed?

[Bill84]

Many thanks for all the replies, but can somebody tell me if its correct please.

[Jessica@WhiteFieldTax]

Currency GBP - Pound Sterling
Class of share Ordinary
Amount paid up on each share 1
Amount unpaid on each share 0
Number of shares 1
Aggregate nominal value 1
Prescribed particulars Each share has full rights in the company with respect to voting, dividends and distributions.

Yes, seems OK for Companies House basic set up.

[JB3000]

Hi there, I am starting a new ltd company for my first contracting job, inside IR35, checked with a professional, and I have filled the shares as follows



Currency GBP - Pound Sterling
Class of share Ordinary
Amount paid up on each share 1
Amount unpaid on each share 0
Number of shares 1
Aggregate nominal value 1
Prescribed particulars Each share has full rights in the company with respect to voting, dividends and distributions.

Does that sseem ok?
Thanks
Bill

Depends, e.g. if you have a low income spouse you might want to make her to be a shareholder as well as your next contract maybe outside IR35.

This is exactly way you have been told to speak to your accountant. In the long term I predict that you will make many costly mistakes if you simply rely on people willing to provide free advise with zero accountability. Classic case of false economy.

[vadhert]

Speak to an accountant. Am sure they will give you a bit of advice before you sign up with them. You need a professional to help you right now.

+1

Get it right now and save yourself the trouble in the future. A business is a legal entity and needs to be setup correctly. The accountant will also give you advice / help on VAT registration and FRS which will only benefit you.