Self employment and tax ??

Re: Self employment and tax ??

Caro Laithwaite VN — Sat, 21 May 2011 19:23:07 GMT

No being a ltd company doesn't save and costs a lot. in the old days it was the way to save now you need to think carefully you need a charted accountant not a bog standard one for that you are looking at over 120/month plus you have corporation tax to take into account. We became one as a lot of places want you to be a ltd comp. they or an umbrella com. pay your tax/ni and there was Brian and l. Now he has passed l have stayed as Ltd. For you starting out stick to self employed until your level or type of work says you need Ltd and then you go discuss it with a charted accountant in depth and NOT a normal accountant.

As self employed normal accountants can do your tax etc for you on your tax returns or you can do it yourself. A Ltd company you can do your daily and/or monthly accounts but your year end ones for submission must be done by chartered.

Re: Self employment and tax ??

Susan Jackson — Sat, 21 May 2011 18:21:27 GMT

I locumed myself with out a company. Just kept receipts of money spent on working like uniform, petrol etc. Invoiced the practices with an Invoice book I got from WHSmiths. At the end of the tax year filled in my tax returns.

Some nurses I know as locums have paid for an accountant so they could make themselves a private company, apparently saves on tax. The accountant then ran the books and did the tax returns.

Re: Self employment and tax ??

Anonymous — Sat, 21 May 2011 11:14:56 GMT

I loum and use an umbrella company called i4 solutions. so they sort it all out through the agency. You can also claim expenses back like petrol and food. Many practices/agencies will only pay through an umbrella company.

I wouldn't have a clue how to do taxes so this was defiantely the best option for me.