• Roy BarberRoy Barber, 5 years ago

    Always been LTD & VAT(Flat Rate Scheme) registered when i was a freelancer. Had a better effect on my income: Basic Pay + Dividends & 6% Extra earnings from flat rate VAT

    Its not necessary, it does provide better protection against you and your assets. E.g take down a eCommerce store for 24hrs with 365 million turnover a year and they sue you for 1mil! they wont be able to claim your house. But then i suppose thats also what my liability insurance was for!

    Its a no brainer now i have 5x staff as the risk and tax benefits far outweigh the extra work needed to be LTD. But freeagent takes care of pretty much all of that.

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