Company formation

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Original Message Added : 22 Mar 2012

hi all

ive taken the plunge into starting my company welding/engineering in hertfordshire i jumped the gun a little and registered the company and formed a ltd company and amazingly family members have come out and said tut tut tut you should have gone sole/trader.

i have read a lot of sites with the pros and cons to this but i think am right due to the tax incentives alone ok corporation tax is a git but that is the law.

for the next six months am still a paye employee for another company who does not know am doing this there not in the same sector but its complicated

any advise please ?

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	Jamie Atkins from Jta Engineering Ltd
Location :	St. Albans
Joined :	22 March 2012
Contact :	Send Private Message
Posts :	2 ( 0)

Reply : 22 Mar 2012

as a limited company, a director is only responsible for the amount of shares they have, (so if a comapny folds owening £20000) you would only be responsible for your number of sares generally £100., if i was to advise anyone thorugh my business i would advise a limited company because as itv says Limited, you are limited to a extent of an amount you have to pay if you fail.

if you need any further advice ring Peiter tomorrow on 08432898877, and discuss this personally we can also offer you other business advice,

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	Peiter Wallace-Docherty from PGD Business Services
Location :	Coventry
Joined :	01 March 2012
About :	Simplfying Business Needs
Contact :	Send Private Message
Posts :	64 ( 16)

Reply : 24 Mar 2012

My advice would be to speak to an accountant as soon as possible.

There are all kinds of pitfalls when you become a ltd company that can end up costing you a fortune in accountancy fees if they have to sort out a mess come accounting time.

So by speaking to an accountant from the off they will make sure you have the right systems and processes in place from the start.

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	Jacqueline Drury from Painter Jack
Location :	Nuneaton
Joined :	25 April 2011
About :	Painter & Decorator, Artist & Designer, Web Design & SEO
Contact :	Send Private Message
Posts :	616 ( 257)

Reply : 26 Mar 2012

Thanks for the great advise and thanks for the phone call

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	Jamie Atkins from Jta Engineering Ltd
Location :	St. Albans
Joined :	22 March 2012
Contact :	Send Private Message
Posts :	2 ( 0)

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