[Steve Newres]

Spoke to an accountant this morning and it looks like I'm going to go ltd very soon.
It suits my personal situation/plans better

I will add my tax has only been under 1k to date as I've invested so much back in.

Unless you are earning about 50k a year there is no point in going limited.

yes there is,  but it depends on personal circumstances and why you want to go ltd. From a soley tax point of view theres very little it it when you consider the added costs of an accountant, but theres more to it than that.

Yes, you can call yourself a company director instead of a window cleaner.

sounds like you need to look into it more, theres loads of reasons to go ltd depending on personal circumstances.

Care to expand?

Well not really because some of the reasons are personal, family situations, children, courts and ex wife type stuff.

One reason though I can share is that I'm thinking of adding my partner either as an employee or as a shareholder later this year and will  take advantage of tax free allowance and dividends etc.

Like I said there's more to it than simply saving a few hundred quid on your tax bill.

That's why I said it suits my situation.

I'm not a daft, I've done my research on the various scenarios with sole trader Vs ltd and considered all the options from expanding Vs staying the same etc etc.
Not going to make a decision overnight I'm still researching all the ins and outs but it's looking likely it will be the way forward for me.

You don’t need to be limited to employ your partner and use tax free allowances. I’d be flabbergasted if it was worth you going limited given the turnover you’ve indicated. And whilst Marc Stock seems a lovely guy, he thinks a new logo is pivotal in gaining an extra 100 customers so I wouldn’t get too carried away with his advice.

Just focus on gaining new work. The other stuff will follow. I saw once on here that the answer to every problem you have is more customers. I think that’s right.

[Marc Stock]

Aww thanks 8 weekly. 

My logo has nothing to do with 'gaining 100 customers' i am actively growing the business, so far this month i have gained another £1250 per annum in custom. An update thread will come end of the month.

There are major advantages to going ltd 8 weekly and il explain my reasons.

1.. Separation
Going ltd gives you better separation. The company is a legal entity in its own right. Sole traderships and partnerships are ok, but can be interpreted by opinion.

2. Focus
Going ltd gives you more focus. No where has Adam said i want to just tick over. He wants to grow the business and by setting up under ltd status that gives him a vehicle to work with that offers more protection more flexibility and most importantly more scalability.

3 diveristy.
Going ltd can also mean diversity. For me Bramar Ltd trades under StockClean for the window cleaning, but eventually i want to be off the windows and have employees doing it all and focus Bramar into other ventures.

If you read my advice it was to gain more customers. My target is 80k in 15months and i am doing it now. As we speak.

As far as the logo thing, i was simply playing about with ideas. Bramar doesn't have a logo yet and that is being designed by an artist but isnt the highest priority.

[Stoots]

8 weekly, you'll just have to trust me that I will be better off as I'm not prepared to divulge personal info on the net, you never know when someone my use it against you.

But it's something that was always going to be considered once I started to make profit.


Also yes I'm only making small numbers now, but my plans are to make bigger numbers so why not lay the foundations now.