Am in full time employment but thinking of setting up a company through which to conduct a bit of a hobby business (which I currently "run" occasionally and on non-profit basis).
Main motivation would be VAT reclaim on costly equipment, would be electing to register for VAT (as under thresholds) but would be making taxable supplies, however meagre.
Re Pensions, this would make me a co. director, what are the guidelines re how much a company can pay into a directors pension?? - is there a "funding test" that needs to be conducted etc??, and by whom??
Co. probably marginally profitable and not very cash rich so, for the moment, its a bit academic but interesting to know nonetheless. Would be interested in setting up SSAP for possible future property investment - again need to find out a lot more about it first - any good sources of info re this (I got Revenue's revised pension guide but havent had chance to read it yet).
p.s. I know the Co.'s office set up costs, but given my background I think I could handle the accounts prep and annual filings, and obviously well under audit exemption limit.
Main motivation would be VAT reclaim on costly equipment, would be electing to register for VAT (as under thresholds) but would be making taxable supplies, however meagre.
Re Pensions, this would make me a co. director, what are the guidelines re how much a company can pay into a directors pension?? - is there a "funding test" that needs to be conducted etc??, and by whom??
Co. probably marginally profitable and not very cash rich so, for the moment, its a bit academic but interesting to know nonetheless. Would be interested in setting up SSAP for possible future property investment - again need to find out a lot more about it first - any good sources of info re this (I got Revenue's revised pension guide but havent had chance to read it yet).
p.s. I know the Co.'s office set up costs, but given my background I think I could handle the accounts prep and annual filings, and obviously well under audit exemption limit.