Ltd Company Without an Accountant - What Cost?

[A N Other Contractor]

Hi there!

I am looking to start my own ltd company so that I can sell the odd website in my spare time.

I would be doing this away from my work (permy job) and wouldn't want to have the expense of paying an accountant every month as I wouldnt be guarenteed work.

What are the costs involved in doing this? I know I would have to pay for my company to be setup but would I incur monthly or yearly charges?

I have a friend who is works in accouts and he says he will help me with my book-keeping.

Many thanks, all help is greatly appreciated!!!!!

Ian

[xoggoth]

On off £56 company set up (or less - bound to be one of the usual accountant show up here and say they will do it £40). £12 annual Co Hse fee.

After that can't see it needs to cost you anything if you are willing to do it all yourself on the cheap with Access or Excel except a lot of time and loss of brain cells through total boredom, so a coupla hundred spent on some decent software might help. As tax laws change you will find you need annual updates. Have a search on accountingweb.

[Debbie Reinvented]

Why set up as a limited company? Sole trader could suit you just as well.

[DodgyAccountant]

Limited company will have a tax advantage compared to sole trader. Depending on turnover, this could be eaten up with accountant's fee for preparing statutory accounts for Companies House if you cannot do it yourself.

Companies House Annual Return fee is £15 not £12.

Good luck.

DA
In pedant mode