Going limited

[Teaboy]

But there circumstances, objectives and position is different to yours.
So there opinion is useless either way

This question always crops up on here and it’s pointless


It’s like saying I’m buying a new car what do you lot have I’m looking for advice


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[Dane]

But there circumstances, objectives and position is different to yours.
So there opinion is useless either way

This question always crops up on here and it’s pointless


It’s like saying I’m buying a new car what do you lot have I’m looking for advice


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Thanks for taking the time out to reply

Dane


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[Teaboy]

Thanks for taking the time out to reply

Dane


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Don’t be silly it’s fine and what the forum is about, but let’s call a spade a spade and this forum has too many opinions and not all the facts to offer you the best advice.

An accountant is free for the initial chat go and speak to them


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[Dane]

Don’t be silly it’s fine and what the forum is about, but let’s call a spade a spade and this forum has too many opinions and not all the facts to offer you the best advice.

An accountant is free for the initial chat go and speak to them


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Honestly it was a genuine thank you, i agree that’s what forums are for and I certainly don’t take anything personally on a forum.... I thought this thread was done with until I got a couple of notifications yesterday so I’ll take any advice.

Dane


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[Teaboy]

If you get confused or unsure with what the accountant ask or if you think the price was off ask again chap!
Have a good wknd?


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[Dane]

Don’t be silly it’s fine and what the forum is about, but let’s call a spade a spade and this forum has too many opinions and not all the facts to offer you the best advice.

An accountant is free for the initial chat go and speak to them


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Honestly it was a genuine thank you, i agree that’s what forums are for and I certainly don’t take anything personally on a forum.... I thought this thread was done with until I got a couple of notifications yesterday so I’ll take any advice.

Dane


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[Guest]

Big is in the eye of the beholder. Ltd is only necessary if you have debts, nothing to do with of contacts. 

Not it sure how far you’d get along the tender process, without being ltd? 

 

[Dave Shaw]

 
 
Not it sure how far you’d get along the tender process, without being ltd? 

Sometimes this is the case but not always. Anyone can basically register their company and it’s not some sort of prestigious award only given to the elite.


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[Part Timer]

Not it sure how far you’d get along the tender process, without being ltd? 

I have been to the final stage, and came third, in my first year of the Gentoo tender, circa £40k a year. Might not be "big" to you but I would think it's very big to someone that doesn't know the ins and outs of going Ltd. 

Currently negotiating with a large company over a contract, I believe circa £50k a year, and I'm not Ltd. If you're talking National Contracts then yes Ltd will be one of the criteria, including H&S, Diversity Policy etc etc. Don't think the OP is anywhere near that yet. 

 

[Pjj]

If you want big contracts you really need to be ltd. 

Why ????? We arnt ltd and have some very big contracts with large national companies 

 

[Guest]

my experience is diffferent. I was told by many local authorities etc that we needed to be vat reg and ltd, to give the impression of adequate capability.

Ive obviously had it harder than you guys!

 

[Pjj]

my experience is diffferent. I was told by many local authorities etc that we needed to be vat reg and ltd, to give the impression of adequate capability.

Ive obviously had it harder than you guys!

I think the example of carillion sais it all about large companies it means nothing many are running on huge loans or only just juggling incoming money against outgoings : Generaly local authorities work isn’t worth doing we used to do stuff like that but they are constantly wanting work done for silly prices last job I priced up like that I was 3x the price of the winning bid and I was only just making a small profit on my price the company who are doing the contract are loosing money doing it : they are also a pain paying on time . We do a lot of largish commercial stuff for the private sector this is far more profitable and they pay on time , I have never had a problem competing with much larger national window cleaning company’s in fact several of our best commercial customers are happy to pay us 3 times more per clean than they were quoted by bigger firms as they like the quality and personal touch that we supply and are happy to pay a premium for that they arnt intrested in us not being ltd I personally cannot see a reason why it would benefit me at this stage my accountant has advised against it to , we don’t have any debt and hopefully arnt about to go bust so I will carry on as we are 

 

[adamangler]

I incorporated back in may. 

I much prefer it to sole trader. I like paying myself a wage and having that distinct separation between company money and personal. Tax wise on my turnover it's a matter of a few hundred quid a year when you factor in account fees, it's negligible. good having the comfort of ltd liability especially when employing on working on commercial.

 

[Cghwindowcleaning]

Going Limited makes no difference to commercial unless your dealing in large single contracts (50k and above)

One of the reasons is large commercial contracts like to be able to see your financial status and accounts and to one make sure you can deal with a large contract and have the funds to carry it out.

A large contract will require an investment in a van, equipment and staff and most like to have 60 -90 day terms which is why they're  unlikely to use a small un limited and vat registered companie.

 

[Dave Shaw]

I incorporated back in may. 
 
I much prefer it to sole trader. I like paying myself a wage and having that distinct separation between company money and personal. Tax wise on my turnover it's a matter of a few hundred quid a year when you factor in account fees, it's negligible. good having the comfort of ltd liability especially when employing on working on commercial.
 
 
 
 

Did you not get a wage before? I do like the idea of the limited liability to protect your investment though bit makes no odds if you employ or do commercial, if you get sued that’s why you have insurance.


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[adamangler]

Did you not get a wage before? I do like the idea of the limited liability to protect your investment though bit makes no odds if you employ or do commercial, if you get sued that’s why you have insurance.


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Nope. How can you get a wage as a sole trader? I'm on PAYE now..

Yes it does make a difference, an employee would sue the company not you personally. One example would be unfair dismissal or breach of contract. 

 

[Dave Shaw]

That’s why I employ on a zero hours contract. It’s much easier to manage in our line of work. From what I gather about what you’ve put on here is that your done employing and hate commercial work so unless your thinking of investing massively or getting investors to why go through all that trouble to just give yourself a wage slip every month?


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[Teaboy]

 
Nope. How can you get a wage as a sole trader? I'm on PAYE now..
 
Yes it does make a difference, an employee would sue the company not you personally. One example would be unfair dismissal or breach of contract. 
 
 

Not being a swine  here but you can still be held liable as a director in some instances,


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That’s why I employ on a zero hours contract. It’s much easier to manage in our line of work. From what I gather about what you’ve put on here is that your done employing and hate commercial work so unless your thinking of investing massively or getting investors to why go through all that trouble to just give yourself a wage slip every month?


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Sorry to so but imho zero hour contracts are done starting off with them now is a poor idea,

How can you get loyalty from staff? It’s a two way process in this day and age and certainly with employment at the low rate it is.


It won’t be long before it’s outlawed, it will be the next media clampdown



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[Dave Shaw]

Sorry to so but imho zero hour contracts are done starting off with them now is a poor idea,

How can you get loyalty from staff? It’s a two way process in this day and age and certainly with employment at the low rate it is.


It won’t be long before it’s outlawed, it will be the next media clampdown



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Tbh they probs will be sacked off but for now it works for me. It also depends on who your employing. The lad I’ve got at the min isn’t bothered about a workplace pension, loves the idea of freedom to work whenever he wants(that works both ways), still gets holiday pay and I’ve know him for a long time so he knows my mindset about putting a graft in so knows he will never be short of work. I’ve pretty much grown up around window cleaning so know an abundance of lads that are that way inclined. The way I see it is if you don’t work you don’t get paid, simple as. Maybe if I needed to employ any tom, d1ck or harry things will be different but for now life is good. I always work on the basis that things can change rapidly, sometimes for the better and sometimes for the worse so I’m always prepared.


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[Teaboy]

Tbh they probs will be sacked off but for now it works for me. It also depends on who your employing. The lad I’ve got at the min isn’t bothered about a workplace pension, loves the idea of freedom to work whenever he wants(that works both ways), still gets holiday pay and I’ve know him for a long time so he knows my mindset about putting a graft in so knows he will never be short of work. I’ve pretty much grown up around window cleaning so know an abundance of lads that are that way inclined. The way I see it is if you don’t work you don’t get paid, simple as. Maybe if I needed to employ any tom, d1ck or harry things will be different but for now life is good. I always work on the basis that things can change rapidly, sometimes for the better and sometimes for the worse so I’m always prepared.


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Wish I was in your boat getting good lads is rocking horse around here as there’s just so many at it!


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[adamangler]

That’s why I employ on a zero hours contract. It’s much easier to manage in our line of work. From what I gather about what you’ve put on here is that your done employing and hate commercial work so unless your thinking of investing massively or getting investors to why go through all that trouble to just give yourself a wage slip every month?


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Never say never with regards employing, frustrating it is though.

Commercial, I do prefer residential but if the right one came along...

What I would do in future is like yourself have zero hour contracts or at least some form of a few months trial period before putting guys on the books.

There are other reasons why I prefer to be ltd, non business ones...

It's no trouble at all, I have an account now, I never had one when I was a sole trader.