Carpet Cleaning Issues - Carpet construction, upholstery cleaning, stain removal, equipment, events, etc.

Need help - going Limited?
Posted by Northerclean (Alex), 31 December 2003
I'm hope for some feedback on a making my business limited as I've got a great problem. My wife just told me on Christmas day she 6 weeks pregnant Grin Grin Grin

I was talking to a chat in the pub and he tells me if I become limited I'd recieve some benefits, however, he didn't know the details. Anyone know what benefits I'd get and if it's worth going ltd?

Cheers
Alex
Posted by Derek (Derek Bolton), 31 December 2003
Hi Alex

The Limited Company issue sounded great but I have always had my reservations ...the Chancellor is too canny a fellow to give money away.

Low and behold, he has now recognised that there is a tax loophole which he intends to close in the budget next year.

Contact your local benefits office for the lowdown  on any entitlements, I don't think going Limited will make that much difference. A lot is down to your wife's employment.

Congratulations....looks like its going to be a productive year for you in 2004.
Both my daughters have informed us recently that they are both pregnant, babies due around June/July

Kind regards
Derek
Posted by Northerclean (Alex), 31 December 2003
Cheers Derek.

I'll give them a buzz on Monday.

Posted by strakercleaning (strakercleaning), 1 January 2004
WHO? Tax office or the daughters Shocked
Not really......knew carpet cleaners could be a friendly bunch but .......... Wink
Congratulations to all expecting parties........surprising how late night work will seem so attractive soon Grin
Posted by martin_606 (martin_606), 1 January 2004
I ahve been ltd before and will again.

Talk to your accountant (prefrebly one who is Ltd also) they will be able to tell you all the advantages, like earning 10,000 before you pay tax. Lets also not forget that with a ltd company you pay for everything with pre tax money and the government only tax you on any profit (if you choose to have one that is)

Regards

Martin Cool


This page is a thread posted to the cleanitup forum at www.cleanitup.co.uk and archived here for reference. To jump to the archive index please follow this link.