Registering Limited Company For AM Work (5)
Hi,
first, I'm a UK national - although currently living in some corner of Europe.
I keep all my tax responsibilities in the UK, in any case.
After much deliberation I've decided to register a limited company.
I've been a sole trader for many years, working as a copywriter. So far as I can
tell, I'll pay less tax with a company, not pay VAT, and limit my liabilities (just in case).
It seems like a win-win-win or am I missing something?
Ok, so here's the main question:
I saw Mr Finch recommended 'MadeSimple.com' they're a good price and it all looks simple.
But I'm stuck on a name, right now.
Initially, I was thinking of using my writing website name, but it's very specifically about
writing and I wanted somethign more general for a company name.
So I thought of using my full name 'Philip Brown Ltd'
But then I thought, hey, wouldn't it be nice to have just a little anonymity? What if I decide
to sell it, or what if I decide to become a porn-king...
Someone, somewhere else, suggested using my own name plus a descriptive word to
'market' my business and let people know what I do, so:
Philip Brown marketing Ltd
Philip Brown consulting Ltd
None of which are particularly inspiring.
So then I thought I'd just come up with a word or words or some-damn-thing that is not so
generic as to be dull - 'worldwide marketing consultants ltd', for example but not so specific
as to have my name and address on it:
Some thoughts:
Syntax Ltd (means putting together and refers back to language and writing)
I dunno - any thoughts, ideas, suggestions, advice?
Apart from personal preferences, I don't think the name matters that much.
Syntax Ltd seems like a cool name but might be already taken.
Whatever you decide to pick make sure there is a free .com domain available so you can use for your website and email.
Originally Posted by bbrock32
maybe I'm over-thinking it, as is my wont - a good trait for copywriters, apparently, but not good for just about everything else in life: in my experience.
Yes, syntax ltd is available at company house but not as a .com etc
So maybe that's a dud, after all.
I'm literally in the same boat as you, just a bit further down. I've registered my Ltd company upon recommendation of Finch, set up the website, email, etc.
I actually went with online accountants (Crunch accounting in the UK) and I tried explaining to them what I was planning to do, but they said that I might be able to make more money as a sole trader because of the lack of corporation tax, and the lack of fees, etc.
I was wondering what approach anyone had who has experience with this sort of thing. For VAT registration did you go flat rate, standard rate? What did you say was going to be your estimated turnover?
Definitely need to get someone else's take on this who has been here before and done what I'm doing now. What's the best approach for this?
Hi,
yes, I think it was Finch who originally put the idea in my head. Then a post on this forum seemed to support what he'd said.
I guess the way I see it right now is that even if the tax rewards/penalties were roughly similar, having a limited company still has the advantage of limiting liability.
Working online is a bit of a minefield and it makes sense to protect your personal assets: having a limited company is a good way of doing that.
Originally Posted by blackjack77
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