VAT and Limited Company

[heath]

Hi

I am earning 4- 5K per month now after 6 months and have just set up a limited company and have registered for VAT. Why does everyone moan about Hillarys on here. It's a good easy business. It's like a 60K PAYE job without the hastle ! Would be nice to hear your positive comments?

[Russell]

heath said:

Hi

I am earning 4- 5K per month now after 6 months and have just set up a limited company and have registered for VAT. Why does everyone moan about Hillarys on here. It's a good easy business. It's like a 60K PAYE job without the hastle ! Would be nice to hear your positive comments?

Totally agree where else would you earn that kind of money "in the real world" it has its ups and downs but a good life can be had by all.

[blue van man]

Just had my first full year accounts as a Ltd Co finalised.
Benefit of Ltd over sole trader was approx £3,500 less an additional £500 accountants bill.

Flat rate VAT has given me nearly a £5k benefit. Thank you to the Fat Controller Gordon Brown for introducing the scheme

[gloryboy]

des said:

Just had my first full year accounts as a Ltd Co finalised.
Benefit of Ltd over sole trader was approx £3,500 less an additional £500 accountants bill.

Flat rate VAT has given me nearly a £5k benefit. Thank you to the Fat Controller Gordon Brown for introducing the scheme

i trade as a partnership and my accountant assures me changing to ltd co. and vat registration would not benefit me!

[heath]

Is you accountant up to date with VAT and tax rules ? Maybe if your part time with a full time job and Hillarys is only a small part of your income - But for full time it makes full sense !