Setting up as a Ltd company.

I'm starting a new job and (apparently) need to set up as a company.

This is all new to me, so does anyone have any advice as how to go about, and pay the right amounts? I also believe that as I'd only have one customer I would be in IR35?

Check out jsagroup.co.uk lots of info there.

Speak to Jonny on here as he helped me set up mine properly.

Get a proper accountant who knows about contracting. You'll probably want to go VAT registered as well, however a good accountant will explain it all.

you could always go through an umbrella company
i did this when i started contracting and didnt want to wory about an end of year tax bill.

You pay the umbrella company a monthly fee usually around £50
You submit your expenses, recipts etc to them each month.

Your employer pays your wage to the umbrella company who deduct your fee and also your tax. They will process your expenses (you will be getting your VAT back). Finally they will pay you.

It can work out cheaper than an accountant and means you wont have an end of year tax bill to worry about. Some accountants may be able to save you more money however this is a good worry free way of doing things if you dont want the hassle of going limited.

You are best getting an accountant to look after the limited company for you due to the complexities involved. As advised above it will more than likely be profitable for you to register for VAT.

You do need an accountant that is familiar with contracting, but you must choose wisely. I have just took on a client who was using a very well know sepcialist contractor accountancy service (it's won awards) and the level of service and advice was shocking...

As Mario has noted, there is the umbrella route. However this may be more costly than your own limited company route as whilst the fees may be lower, the overall tax take is higher. You also have to be careful about the claims that these providers make about deductions as they are definitely 'sailing close to the wind'.

Whether or not you are under IR35 is all down to your contract and what your employer suggests. It is quite complicated and is always specific to each individual/employer.

I'm happy to discuss further with you if you want to. PM if interested.