Going Self Employed

Soldato
Joined
12 Dec 2006
Posts
3,421
Location
Worthing, West Sussex
Slinxy - got any names for these agencies? :)

I think Sole Trader might be the easiest option, but I'm not sure if it's the best.

Sole Trader is the one that gets suggested to me a lot, but there's some part of me saying "No you want Ltd! YOU WANT LTD!!" and to be honest I don't know why. I won't be borrowing money (at least not soon) as there's no reason for me to do that, so I don't think there's much chance of me going bust. But as I say, I just have something telling me to go Ltd. I think Ltd would make it better for employing people later on, and maybe getting into buying and selling goods or any other area of business?

Captain Kirk; We are being hailed by the Borg. But back on topic, I don't know anything about book keeping and stuff, and have nobody to help me there... this is my main worry about starting up - I have no idea at all about what to do about money. When you're working for someone, all the money you get, you spend how you want. But working for yourself, I don't know about taxes or anything else I've gotta pay and am scared of getting fined for doing something wrong.

I've spoken to a bank about it before now and they're no use, really they're only there to sell you a bank account.

Paying an accountant is a tricky one too, as I don't earn that much, and they charge a lot.

Another part of me thinks I'm worrying too much and I should just go ahead and get set up, but I think I need to know exactly what I need to do before I start up?
 
Associate
Joined
25 Aug 2005
Posts
717
Location
Derbyshire
Sorry, forgot to say, you now owe me £100 for the above "advice" :p
The only way to do it, I'm afraid, would be to pay a decent accountant that knows about all of this. Well, that's the only safe way of doing it. I'm afraid I only graduated uni last year, so my advice should be taken with a pinch of salt (as should any advice given on a forum)
 
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