Any IT Contractors?

Soldato
Joined
24 Oct 2002
Posts
14,162
Location
Bucks and Edinburgh
I think you can inform Companies House to put the company into a "dormant" state actually. Not entirely sure.

But even still, I can't imagine an accountant would charge much for filing the accounts of a clearly dormant company.

I dont disagree with you, but I know some people have. I just wanted to make it clear that there are extra charges should who ever should chose to do so, not that they should.
 
Associate
Joined
15 Jun 2006
Posts
575
Yup been a contractor for 16 years.

Best bet is go with someone like SJD or Nixon Williams as accountants who will setup everything for you (Google them). They will take you through everything. Might be worth reading up on www.contractoruk.com for the newbie guides as most questions are asked there every week.

Finally if you have any specific questions then feel free to email me.

+1 This person knows what they are talking about.

You would be a fool not to go with Nixon Williams (speaking from Experience, and the 3 people I have referred who remain happy campers).

To sum up, go with Nixon Williams, and enjoy an easy life, with all head aches handled, and certainty that you are not being lead down a dodgy road with possible future tax implications.

TM
 
Soldato
Joined
21 Jul 2004
Posts
6,332
Location
Bromley / Uxbridge
I used Parasol as the umbrella company for my first contract, but later realised that a Limited Company is far better and used InTouch Accounting to set this up and manage all my accounts. They are as good as the others that have been mentioned and don't charge as much as the premium ones.

Limited Companies are only really beneficial if your income will exceed the High Rate Tax threshold (~£40k). If it will, then go down the Limited Company route.
 
Man of Honour
OP
Joined
16 Jul 2009
Posts
7,896
Location
Edinburgh
Thanks again guys, my annual income would already be over the higher threshold and thats assuming I was to be on the same day rate across the 12 months of the year so it looks like a Ltd would be of benefit to me.

And thanks for the recomendations I've been looking at Nixon Williams and Intouch alreadyso its good to know they are rated by others!
 
Associate
Joined
21 Jan 2006
Posts
142
Location
Northampton
I was just wondering for those of you operating as a Ltd Co how did you go about picking a name for it?

It took me ages, many a pint or two drunk. Lots of names thought of then scrapped. I settled on my initials and what I do for my job. Simple in the end, but it took loads of thought and a fair bit of stress. It's a simple process, but can turn out to be one of the hardest things ever.
 
Associate
Joined
25 Apr 2004
Posts
2,496
Location
Chelmsford
I tried my name ltd, initials, they were all taken. So I had to get creative:-

I came up with Colour + animal + solutions/consulting

e.g.
Green Fish Solutions
Red Bear Consulting

or

Red Star consultants

etc.
 
Man of Honour
Joined
20 Sep 2006
Posts
33,887
Good info in here thanks all, I'll be becoming a contractor within 2 years depending on how the Army redundancies pan out.

Bookmarked some of the links for further reading as well.
 
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