is ltd worth it for me?

[moli]

hi very quick one and simple but i imagine refers to most contractors i know.

defo in IR35. no mileage to speak of (2m/day) or expenses(maybe £2400 for mileage and extra £500 for other stuff (cant have enough blutack)).

£4000 per month for ten months ( i plan on contracting forever so happy with the setup/ admin etc.)

any ideas??
(please bare in mind i have a terrible umbrella ( and have ditched) but wasn't earning nearly enough to justify ltd)

also a quick one re accounting. how much should i look to pay for a year end service to sort my tax liability out and some good advice on strategy??

free advice is brill. cheers in advance.

Moli

[Platypus]

i plan on contracting forever so happy with the setup/ admin etc.

Sounds like you should go ltd

but wasn't earning nearly enough to justify ltd

Overheads of running Ltd are accounting fees (less than £2k p.a.) so not sure what the problem is. Oh and you need to be bothered to learn a bit about accounting and VAT (but not that much).

how much should i look to pay for a year end service to sort my tax liability out and some good advice on strategy??

I pay about £2k p.a. but I know some folks on here will laugh at paying that much. However, I get (IMO) very good advice so I reckon it's worth it.

My opinion: go ltd.

[IR35 Avoider]

Based on my own records, if you make 40K in a year I reckon you could earn about £58 per month profit after tax on the flat rate VAT scheme. I think SJD charge £106 a month for accountancy, so net cost of running a company would be £48 per month. To put it another way, the maximum cost is £106 and falls as your income rises, with the breakeven being 73K, above that the government is paying you.

[BrilloPad]

join montpelier.