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Setting up as a ltd company

7 replies

KayTee87 · 13/04/2017 14:01

Don't know if I'm posting in the correct place. My husband is setting up as a ltd company as an IT consultant. He will obviously speak to a professional but just wondering if anyone on here can give us some pointers:

How to go about setting the ltd company up?
Should he open a business bank account?
Can you pay your tax & ni bill monthly and how do you go about doing this?
He mentioned employing me as his secretary and paying me a small salary (I don't want to go into the next tax bracket and already have a full time job). I would actually be doing some paperwork for him - is this morally / legally wrong as it means he would be paying less tax on his profit?
What kind of things can he claim as business expenses; IT equipment, travel costs, stationery, what about business lunches etc?
Any pension advice? Better with a scheme or isa?
Does anyone know anything about sickness insurance?

Sorry if I sound completely clueless but we've both always been paye.

OP posts:
crabbyoldbat · 13/04/2017 18:01

I do this for my partner

Government and HMRC pages are really useful (and readable) on this www.gov.uk/limited-company-formation/setting-up

How to go about setting the ltd company up?
Search online for companies house for info - and there are many companies that will do it for a small fee (

KayTee87 · 14/04/2017 15:57

Thanks crabby that's good advice.

I've just realised he will need to register for VAT at some point too. I think we will defo get an accountant.

OP posts:
paperbattles · 15/04/2017 09:29

What name is he thinking of using? He doesn't need to pay any of the private search business name registers, just check Companies House register. I also suggest a trade mark search, domain name search and a google search to check for Intellectual Property issues. He doesn't have to trade using the same name as the company, but again check IP.

Hoppinggreen · 15/04/2017 10:01

Good advice from crabby but with regard to the pension if there are 2 or fewer Directors you just don't have to set one up.
Get an accountant to sort everything out, my DH is an IT consultant and I also consult in a different area via our limited company.
Look out for IR35, especially if he is going to work for Public Sector clients

crabbyoldbat · 15/04/2017 10:09

That's interesting, about pensions, hoppinggreen - the Pension's Regulator is currently saying we must set one up (2 directors, 1 employee). Do you have a link/source?

crabbyoldbat · 15/04/2017 10:11

Ah, maybe I'm getting confused with automatic enrolment

Hoppinggreen · 15/04/2017 13:40

If you have an employee it's different I think, we don't . I should have said 2 Directors and nobody else
The advice was from my Accountant

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