Showing your company number

[SqueegeeDan]

Hi all.

I've take the plunge and gone ltd and was wondering if the same rules about showing your company reg number on your web page applies to leaflets. I havent had it yet and im itching to get these leaflets printed.

Thank you in advance

 

[Smurf]

If anything is in print be it website, stationary or leaflets as a limited company I assume you should have your company reg on there as well. Reason being anyone could say they are a limited company that are actually not.

 

[SqueegeeDan]

Thank you Smurk

If anyone has the same problem you can find your crn on the companys house search company site. Just google it

 

[Smurf]

I've been called many names but never smurk /emoticons/biggrin.png

 

[SolarPanelCleaning]

Could do with a thread on pros and cons of going limited.

What's driven you to it squidgydan?

 

[DMD]

i'm a limited company, don't have any leaflets printed but on any invoices i have it as a footer in tiny writing as not to detract attention from how much i am owed /emoticons/biggrin.png

business cards don't need them on it.

If someone really wants to find out if you are a genuine company they can google or ask you for your certificate number

 

[SqueegeeDan]

Lol sorry smurf!

SPC Im going ltd for a few reasons really

i. Im hoping to have a second member of staff soon and if there are any leagal issues it will be the company being prosicuted and not me( not that i have any dodgey illegal things happening in business)

ii. I was told by a friend who owns a much bigger cleaning company that bigger companys tend to prefer ltd businesses doing work for them. (Unsure why)

iii. I now clean carpets and ovens and i am looking to go into office cleaning too so squeegee dan window cleaning doesnt really fit the bill but squeegee dan ltd sound great

DMD I put it on anyway as a king of reassurance to anyone interested in having work done

 

[DMD]

You are correct in the points you make about being limited.

We do predominantly builders cleans & most companies require a company reg number as a formality.

In cleaning it makes a big difference and separates you from joe gypo trying their hand at it for pocket money. A LTD company shows commitment (usually) to provide a better, more legal service.

I was told you had to be doing +30k for it to be worth it.

Minimum wage & dividends /emoticons/smile.png

 

[windowsurfer]

If your limited and things go pear shaped, I think you get to keep your house if you own it, as its the business that goes under.

Going Limited seemingly gives the right impression that your serious and companies that want to use your services.

I see you do oven cleaning, how is that done, im sure I saw someone doing that, at the back of a van and they were just cleaning the removable internals with hot water? Need to get this put in the add on services forum if not there, good service for rainy days.

 

[SolarPanelCleaning]

So you pay yourself minimum wage (tax reasons) and award yourself dividends. Are these taxable like income tax? How does the dividend thing work?

 

[rshandyman]

You pay tax on dividents as well at least these from investments

 

[rshandyman]

But only 10 percent

 

[DMD]

So you pay yourself minimum wage (tax reasons) and award yourself dividends. Are these taxable like income tax? How does the dividend thing work?

you don't pay income tax up to 10k on the NMW, so over a year you will pay roughly only £500 in income tax, dividends only taxed at the end of the financial year @ 10%

much more efficient

 

[SolarPanelCleaning]

Are you only paying ten percent because your income is so low?

If I was earning 20k from a ltd and then awarded myself dividends, would they taxable as an extension of my income eg 20k + whatever, or would the dividends still be taxed at ten percent? Regardless of income that tax year?

 

[SqueegeeDan]

Sorry for the late response guys.

Window surfer - the oven cleaning is goin ok. Im doing it as an extra income for winter more than anything. A bit of wet weather work. I use strong chemicals iv been told its the best way and tbh i dont like the idea of driving around with a bottle of calagas in the back of the van.

To answer the dividends question i use a very good accountant and he aorts it all out every 6 months. I havent had the first share yet but im sure ill be happy with whatever i get.

 

[Green Pro Clean Ltd]

Dividend tax example

If you pay yourself a salary of £8,000 per year, and draw down a further £60,000 in dividends, you first use up your £10,000 tax-free personal allowance when calculating your overall tax liability.

You pay no dividend tax at all on the dividends you receive within the ‘basic’ tax band – i.e. on the first £31,865 (2014/15) after taking into account the personal allowance.

So, there is no additional income tax to pay below £41,865.

You are taxed on the gross dividend amount (10/9 times the £60,000 dividend) = £66,667.

You must pay higher rate dividend tax on the income you have received between £41,865 and £74,667 (£32,802) – this is 22.5% of the gross dividend amount (32.5% higher tax rate – 10% tax credit) = £7,380.

The company will have paid a 20% tax rate on all profits to begin with.

I think that's it.

Are we still confused? :rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:

 

[rshandyman]

Even more

 

[rshandyman]

Dividend tax exampleIf you pay yourself a salary of £8,000 per year, and draw down a further £60,000 in dividends, you first use up your £10,000 tax-free personal allowance when calculating your overall tax liability.

You pay no dividend tax at all on the dividends you receive within the ‘basic’ tax band – i.e. on the first £31,865 (2014/15) after taking into account the personal allowance.

So, there is no additional income tax to pay below £41,865.

You are taxed on the gross dividend amount (10/9 times the £60,000 dividend) = £66,667.

You must pay higher rate dividend tax on the income you have received between £41,865 and £74,667 (£32,802) – this is 22.5% of the gross dividend amount (32.5% higher tax rate – 10% tax credit) = £7,380.

The company will have paid a 20% tax rate on all profits to begin with.

I think that's it.

Are we still confused? :rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:

Where did you get these calculations from?

 

[SqueegeeDan]

Dividend tax exampleIf you pay yourself a salary of £8,000 per year, and draw down a further £60,000 in dividends, you first use up your £10,000 tax-free personal allowance when calculating your overall tax liability.

You pay no dividend tax at all on the dividends you receive within the ‘basic’ tax band – i.e. on the first £31,865 (2014/15) after taking into account the personal allowance.

So, there is no additional income tax to pay below £41,865.

You are taxed on the gross dividend amount (10/9 times the £60,000 dividend) = £66,667.

You must pay higher rate dividend tax on the income you have received between £41,865 and £74,667 (£32,802) – this is 22.5% of the gross dividend amount (32.5% higher tax rate – 10% tax credit) = £7,380.

The company will have paid a 20% tax rate on all profits to begin with.

I think that's it.

Are we still confused? :rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:

So what your saying Green is that there is no tax as long as you dont turn over £60,000 a year!