[anderclean]

Hi guy's
anyone gone Ltd. and can really recommend it
Or warn against it

Any help appreciated

[Soupy]

Talk to an accountant.

[Crystal-clear]

Indeed talk to an accountant because everyone's personal financial situation is different.
For example you may have rental income or other self employment income a pension anything..

Anyhow If you were talking about your personal  income Firstly from a tax-efficient point of view it will only be logical if you're making profits of over £50,000 ( your around £2500 better off before account fees )P.A now if you make £60,000 as self employed you would pay a heavy tax on that 10000 Via a limited company
You can roll it over to next year as profits and you'll only pay corporation tax soon-to-be 17%
And then you can access it if you have a slower year next year or whatever.

I would say it certainly beneficial if you are aiming to or are making anything between 50000 and 60000 profit per year and ofcourse more. That's purely from a personal tax point of view tho

Other reasons to go limited the business is a separate entity and it's exactly what it says on the tin limited liability provided you don't do something really stupid...

There are also some special taxation rules which can be beneficial if you are operating as a limited company.

Anyhow definitely take the above advice and seek a chartered accountant you shouldn't pay more than £800 per year max ! for company accounts under the VAT threshold at least..

Hope this helps a little bit

[anderclean]

thanks guy's

of course, i will talk at length with our accountant,
who is chartered  (on holiday atm),
was just hoping for some, from the "horses mouth", experience from other window cleaners...

[Ooooooog]

Being Ltd will make you feel more important. These little boosts are really beneficial when you clean windows for a living.

[Smudger]

Being Ltd will make you feel more important. These little boosts are really beneficial when you clean windows for a living.

🤣😂

[Window Cleaning Superhero]

It is worth remembering that if you go limited and choose to have your vehicle in the business then you may find two issues.

As a new limited  company, if you decide to lease a vehicle or get finance then you will be applying in the name of the business.  If the business doesn't have a credit history (because it's brand new), then you may struggle to get approved for the finance/lease.

Also when you come to insure the vehicle, insurance companies can be a bit funny about the owner on the vehicle being different from the driver (because the company owns the vehicle).  They may let you transfer your personal no claims bonus into the company but you can't get them back if circumstances change.

Its worth considering these aspects before you make the leap.

Good luck though with what ever you decide.

[anderclean]

thanks for that WCSh

[deeege]

It is worth remembering that if you go limited and choose to have your vehicle in the business then you may find two issues.

As a new limited  company, if you decide to lease a vehicle or get finance then you will be applying in the name of the business.  If the business doesn't have a credit history (because it's brand new), then you may struggle to get approved for the finance/lease.

Also when you come to insure the vehicle, insurance companies can be a bit funny about the owner on the vehicle being different from the driver (because the company owns the vehicle).  They may let you transfer your personal no claims bonus into the company but you can't get them back if circumstances change.

Its worth considering these aspects before you make the leap.

Good luck though with what ever you decide.

Just lease it through the company and personally guarantee the finance if they so require. Simple.