Set up a Company

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dotty121

Guest
Hello,
Im new to the forum and was wondering if anyone could give me some guidance. Im a full time employee on a salary etc, and was thinking about setting up my own small business/company. The thing is, i still want to remain in full time employment for my boss but wanted to set up my own consultancy company so i could do additional work in evenings/weekend and be able to invoice for this work.
What is the best way to go about doing this type of thing??
What would be the tax implications etc...
Thanks in advance for any info provided........
 
I would recommend that you avoid the company route for the moment. Starting a company is expensive and the legislation and requirements regarding the running of a company are also problematic. Operating as a sole trader would be the better option. make sure that what you are intending to do does not conflict with the terms of your existing employment. Tax issues are fairly simple if you are intending to operate below the VAT threshold. Recommend that you talk with an accountant regarding this. Ideally choose a small accountantcy firm and get a recommendation if possible.
 
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