Post
by Sky_High » Mon Aug 31, 2009 9:50 am
Sole Trader VS LTD => LTD is cheap option
LTD Earning through Dividends and Salary VS LTD Earning through Salary only (No Dividend) => Earning through salary + Dividend is cheap option.
(In sole trader + LTD option where you are earning through salary and dividends, HO will be interested in more details of your business and profitable trading).
Sorry every one if I am off the immigration topic now.....MACY when you go to your accountant ask/do these following things
Get an idea of your sale / profit for next year (VAT point of view and better tax planning)
Discuss all three options with him (Sole trader and TLD salary and dividend option). Mostly first appointment is free however some could charge you 25/50 pounds for an hour consultancy. Once you/your business can prove the profit of 20K home office will be happy with any option. An accountant on borad at the early stages of business will make sure that you have all necessary documents (e.g payslips, P60, tax returns, dividend papers etc). Always go to ACCA or ICAEW accountant. Do not go to a firm more than 2 partners (For small business they could be very expensive). For payslips and dividends paper work, you can go to your local bookkeeper/payroll service prover and they may do it for you as little as 10 pound per month.
Before meeting with accountant, it also worth to read Tier 1 guidance notes to get fimilar what support documents you need to support your case. Best Wishes