After our initial consultation, we can provide an estimate of my fees. This will then be put in writing and reviewed year on year. The fees depend on the type of business, your reporting requirements, complexity of your business and the level of work already completed by yourself. There will never be any hidden costs, and we will notify you if there are any unexpected costs that you need to be aware of.
We work standard office hours. Also we would be happy to arrange out of hours meetings at your convenience.
There is a lot to consider when deciding on your legal structure and it is important that you make the best decision for your business.
Registering as a sole trader is the simplest option with less reporting requirements but as you are not distinguished from the business you bear all responsibility for any debts if the business runs into trouble.
A limited company is less of a risk and limits the amount that you, as a director of the company, would be liable for. It can also be more tax efficient; you are an employee so can pay yourself a salary and/or dividends. However due to the administration required with a limited company it is a more expensive way to set up.
Extraction of profits from a company is a complex area and really depends on your circumstances and your profit.
By paying yourself a salary you can take advantage of your full tax free personal allowance and it is an allowable expense before tax is calculated, but there can be less tax to pay on dividends.
Usually a mixture of salary and dividends is advisable and with profit projections we can determine the most tax efficient course of action.
In accordance with the disclosure requirements of the Provision of Services Regulation 2009, our professional indemnity insurer is Simply Business, a trading style of QBE Insurance (Europe) Limited and AXA Insurance UK Plc, Plantation Place, 30 Fenchurch Street, London, EC3H 3BD. The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States of America or Canada.