Have you ever set up a PLC? Help needed :-)

[Quitelikeit]

Can anyone give any advice on setting this up?

If we both have jobs that are paid to us not via this company - how does the money get paid from private consultancy work?

Do you invoice people?

Do you need a separate bank account?

Do you have to take the money out?

What are the legal obligations?

Apologies as you can see I’m totally new to this and I thought if anyone can help someone in MN could :-)

This is such a massive question and one which no-one on MN can answer properly for you.

One thing I can say is that you almost definitely don't want a PLC (public limited company). You may want a private limited company or you may be better setting up in another way. I would strongly advise that you see an accountant who can go through your individual circumstances in detail and advise accordingly. DEFINITELY don't take just advice from MN on such a massive question with potentially long-term consequences. A few hundred quid to a qualified accountant before you do anything at all is well worthwhile. You may well get an initial free meeting but you are likely to have to pay for detailed advice.

https://www.icaew.com/about-icaew/find-a-chartered-accountant
or
https://www.accaglobal.com/gb/en/member/find-an-accountant.html?isocountry=GB

are good places to start. Personally I would advise ICAEW (Chartered accountant), the top link but both will give you a good service.

Thanks

Another bean counter here - the advice above is the best advice in response to this question.