iamthemoney
Registered User
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- 43
hi folks, i am setting up a new LTD company and a few questions..
i am currently a paye worker, and i am setting up this business to do consultancy work on the side; I will be loaning the company money to get started and ongoing, until the company gets going 6+ months time, its a consultancy company so i wont be selling any physical goods.
i will be drawing no salary, and the company wont have any income, or be issuing any invoices , or have any employees, for a good few months, it will just be incurring expenses.
will i have to register for PAYE / TAX / VAT? and how would this affect my PAYE day job?
i will also be availing of the audit exemption, as i will be the sole shareholder in the company.
i intend to keep it as cost effective as possible, any suggestions welcome,
one final point, the second director in the company, will not be a share holder, and not have a salary, he is just there to satisfy the CRO requirement, to have 2 directors, will he have to file any tax, or other paperwork, if he is a director?
thanks
i am currently a paye worker, and i am setting up this business to do consultancy work on the side; I will be loaning the company money to get started and ongoing, until the company gets going 6+ months time, its a consultancy company so i wont be selling any physical goods.
i will be drawing no salary, and the company wont have any income, or be issuing any invoices , or have any employees, for a good few months, it will just be incurring expenses.
will i have to register for PAYE / TAX / VAT? and how would this affect my PAYE day job?
i will also be availing of the audit exemption, as i will be the sole shareholder in the company.
i intend to keep it as cost effective as possible, any suggestions welcome,
one final point, the second director in the company, will not be a share holder, and not have a salary, he is just there to satisfy the CRO requirement, to have 2 directors, will he have to file any tax, or other paperwork, if he is a director?
thanks