creating my own company

[nybor62]

im seriously thinking about forming my own ltd company this year, im 53 , and ive had enough of working for tiling contractors , who are clueless . i end op running the jobs ,get all the flak , tilers being sent to site who aint got a clue . bla bla bla bla bla bla

rant over

 

[Time's Ran Out]

Not sure what difference forming your own Ltd company will make for you with regard to the reasons given.
If you work for yourself now you'll still be working for yourself then.
It'll protect your home/family, but don't take on anything risky is the same.

 

[Colour Republic]

As John says I'm not sure how becoming limited would change anything?

You can set up a limited co for less than £15, it doesn't change your business or where you get work from, that's down to you to change.

 

[nybor62]

im a subby . it aint my work, i get no say in what materials we use , i keep telling them stop sending me a certain brand of grout , it is naff, but they dont listen. ive lost loads of days , due to errors in the office , not ordering tiles when i ask for them

 

[Andy Allen]

Exactly why I just do my own private work.....alot less hassle !!!

 

[John Benton]

Master of your own destiny Rob. And also as Andy says, generally if something goes wrong there's only you to blame.

One thing I will say is you have to be the following:- Marketing, sales, purchasing, logistics, installation, customer service, administrator and so on. So it won't be a case of coming home and your days work is done. But the nice thing at the end of the day it's you thats taking the profit out of the job

 

[nybor62]

exactly john,

 

[Dave]

And then there's the VAT ..

 

[Diamond Pool Finishers]

Yep iam thinking of doing an ltd with my swimming pool insulation system Aquatherm .

 

[nybor62]

go for it

 

[Dan]

Limit companies don't protect your home and family like they used to. Everything now is done with a directors guarantee. So they spin it right back around to the owner of the company which debt or whatever (even with HMRC) is guaranteed against the directors personal assets.

That's why dodgy firms who we see mentioned a lot on sparky forum have it youngest nephew as the director who's got no assets and the guy making the profit out of dodgy sales practices keeps his Bentley when they fold the company 18 months down the line, write off the debt, and form a new company with the same contracts using a new younger nephew.

If you're a genuine bloke doing it right, you're not protected any more than a self employed bloke is when you go Ltd.

I'd sit down with the person in charge where you're at and explain your gripes. Then consider other employers. As going from employer to employee isn't a case of just ordering a ltd company name from a website for a fiver.

How did you get on with this.

 

[Dan]

Did you do any more for this?