hi all
New to the board, as only just formed ltd co. today Would just like to ask for opinions on Abraxas. (ie. what have I let myself in for..) !
Just got offered my first contract (quite nice as its initially for 1yr) and have very little (read: none whatsoever) idea about this whole contracting malarky. Have been reading this forum (and others) furiously however so have some basic ideas on things like ir35 / opting out etc.
Had a meeting with the accountant today and decided it would be wise if I get them to do absolutely bl00dy everything for me. Its going to cost me £120pcm, but hey, I figure as im new to all this I need as much hand holding as possible at first Sure I can always change accountant in the future, but right now I need handholding and these guys were recommended to me (uh oh... )
Im figuring that I will pay myself pretty much what I earn now as a permie, and let the rest of the moolah accumulate in the company account each month, and then a couple of times a year pay out a dividend. What Im trying to figure is the best thing to do with the money in the company account, as I dont want it to just sit there, I would like to put it to work - but in the most tax efficient way (of course).
Other thing I will do is join the PCG and get the ir35 insurance cover as that seems like a good idea.
Sorry for the generality about this post, but Im just getting things off my chest -- would appreciate any pointers from any of you not-so-wet-behind-the-ear contractors
cheers
New to the board, as only just formed ltd co. today Would just like to ask for opinions on Abraxas. (ie. what have I let myself in for..) !
Just got offered my first contract (quite nice as its initially for 1yr) and have very little (read: none whatsoever) idea about this whole contracting malarky. Have been reading this forum (and others) furiously however so have some basic ideas on things like ir35 / opting out etc.
Had a meeting with the accountant today and decided it would be wise if I get them to do absolutely bl00dy everything for me. Its going to cost me £120pcm, but hey, I figure as im new to all this I need as much hand holding as possible at first Sure I can always change accountant in the future, but right now I need handholding and these guys were recommended to me (uh oh... )
Im figuring that I will pay myself pretty much what I earn now as a permie, and let the rest of the moolah accumulate in the company account each month, and then a couple of times a year pay out a dividend. What Im trying to figure is the best thing to do with the money in the company account, as I dont want it to just sit there, I would like to put it to work - but in the most tax efficient way (of course).
Other thing I will do is join the PCG and get the ir35 insurance cover as that seems like a good idea.
Sorry for the generality about this post, but Im just getting things off my chest -- would appreciate any pointers from any of you not-so-wet-behind-the-ear contractors
cheers
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