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Originally Posted by silnarnin  I've registered as self-employed and went on a workshop about being self-employed by the inland revenue. I was very disappointed. I can only claim 40p per mile for the car, or use the method of actual cost (that seems very difficult for me), stationary, PDA insurance, RPSGB fees, accountant fees, books and publications.
The locum that I worked with on friday told me that I should become a limited company. And he's not the first one. But I'm afraid that it might be very difficult. I really need advice here. Is it the best thing to do? I'm grateful for everyone's opinion.
Thank you very much in advance. |
I admit I do everything through my accountant, but he set me up as a Ltd company, tells me what to claim for etc. He even sent me a spread sheet to record the relevant things and keep myself up to date.
I used to do it all myself, but although paying an accountant costs money, I have found it saves you money in the long run.
To set up a company you need to register with Companies House, submit a set of your accounts yearly to them - all done by him.
Then there the different types of tax (PAYE, corporate tax) and NI contributions etc. All in all, I'd recommend a good accountant as it makes life so much easier.
I personally use a guy who is also a qualified lawyer, and that comes in very handy sometimes, as he will usually give me a bit of free advice if I need it. I found him as he specialises in pharmacists, and does the accounts for the locum agency I also use.