Hi all
Grateful of some advice. I do have an accountant but they have been very general about this saying it should be fine but I want to find out what the facts are.
I have a limited company and was advised to convert to this from being a sole trader. I'm a consultant and only earn what I bring in from direct work with clients.
My partner and I want to try for a second baby. I have been funding us for a few years as he has done a phd and has been unable to get work in the last year.
I want to check whether I would qualify for maternity allowance being the director of the company or whether I need to become an employee of my company and pay myself a salary. The thing is we live by my monthly rankings and have no savings so I can't afford not to use my full earnings each month.
We are both desperate to expand our family and love our little girl. I know it is a sensible thing to wait until my partner finds work but I have been waiting for a while already and just want to make this work for myself. I can make sure we can survive for 6 months on maternity allowance as will take extra work on the lead up to going off to put a bit aside to pay for bills (this is what I did last time). I just want to check that I would definitely qualify and whether it is best to just stay the director or to become an employee?
Thanks in advance for your help
Kerry