Cardinal Richelieu Posted March 21, 2021 Share Posted March 21, 2021 I recently quit my job and started freelancing (doing semi-geeky shit). The company that is currently using my services made it clear they'd prefer dealing with a company rather than an individual. So I guess I need to set up a company. But what is the best way of doing it? I'm not really a company - just an individual. So I don't think I need to set up a limited company or anything, but I'm a bit clueless about what I should do. Obviously I could Google it, but I prefer my search results to be peppered with sardonic advice on keeping my heaters on / windows down. Anyone got any advice? And what should I call it? Simply my name? I quite like the sound of The Richie Group, but that's a bit of a grandiose name for a no-mark like me. Have any other P+Bers set up their own company etc? Is there even a difference between a company and a business? 2 Quote Link to comment Share on other sites More sharing options...
johnnydun Posted March 21, 2021 Share Posted March 21, 2021 @Granny Danger 0 Quote Link to comment Share on other sites More sharing options...
Bonksy+HisChristianParade Posted March 21, 2021 Share Posted March 21, 2021 You say the company that wishes to use your services would prefer to deal with a company then go on to say you don’t want to set up a company. Confused. 0 Quote Link to comment Share on other sites More sharing options...
parsforlife Posted March 21, 2021 Share Posted March 21, 2021 7 minutes ago, Cardinal Richelieu said: I recently quit my job and started freelancing (doing semi-geeky shit). The company that is currently using my services made it clear they'd prefer dealing with a company rather than an individual. So I guess I need to set up a company. But what is the best way of doing it? I'm not really a company - just an individual. So I don't think I need to set up a limited company or anything, but I'm a bit clueless about what I should do. Obviously I could Google it, but I prefer my search results to be peppered with sardonic advice on keeping my heaters on / windows down. Anyone got any advice? And what should I call it? Simply my name? I quite like the sound of The Richie Group, but that's a bit of a grandiose name for a no-mark like me. Have any other P+Bers set up their own company etc? Is there even a difference between a company and a business? Is semi-geeky shit registered? That sounds good to me. Alternatively Contractor Underpaying Normal Tax ltd would be suitable, it will need to be abbreviated of course. 4 Quote Link to comment Share on other sites More sharing options...
101 Posted March 21, 2021 Share Posted March 21, 2021 Tax efficient cardinal plc. Or any off these... 1 Quote Link to comment Share on other sites More sharing options...
Jacksgranda Posted March 21, 2021 Share Posted March 21, 2021 (edited) I didn't start a company, I just gave myself a business name and printed business cards, invoices, letterheads etc but just printed on the invoice "make all cheques payable to my own name". At my last couple of jobs my wages were just paid directly into my personal account (the only account I had) on the foot of timesheet/invoice submitted. If you know any accountants it might be worth picking their brains about setting up a "proper" compa ny. (Any fee they charge you for advice would probably be tax deductible...) Edited March 21, 2021 by Jacksgranda Typo 1 Quote Link to comment Share on other sites More sharing options...
Rizzo Posted March 21, 2021 Share Posted March 21, 2021 I set up as a sole trader, handy as I could have my partner help me out on a voluntary basis if I needed it. Opened up a business bank account so I could ask folk to make cheques payable to my business name but other than submitting accounts each year I'm pretty sure that's all I did. 1 Quote Link to comment Share on other sites More sharing options...
strichener Posted March 21, 2021 Share Posted March 21, 2021 1 hour ago, Cardinal Richelieu said: I recently quit my job and started freelancing (doing semi-geeky shit). The company that is currently using my services made it clear they'd prefer dealing with a company rather than an individual. So I guess I need to set up a company. But what is the best way of doing it? I'm not really a company - just an individual. So I don't think I need to set up a limited company or anything, but I'm a bit clueless about what I should do. Obviously I could Google it, but I prefer my search results to be peppered with sardonic advice on keeping my heaters on / windows down. Anyone got any advice? And what should I call it? Simply my name? I quite like the sound of The Richie Group, but that's a bit of a grandiose name for a no-mark like me. Have any other P+Bers set up their own company etc? Is there even a difference between a company and a business? If the would prefer to deal with a company then I am pretty sure that they mean Limited. You will need to buy a company "off the shelf" and then change the name etc. You will also need liability insurance in case you f**k up and get sued. Best to speak to an accountant. 1 Quote Link to comment Share on other sites More sharing options...
madwullie Posted March 21, 2021 Share Posted March 21, 2021 (edited) 2 hours ago, Cardinal Richelieu said: I recently quit my job and started freelancing (doing semi-geeky shit). The company that is currently using my services made it clear they'd prefer dealing with a company rather than an individual. So I guess I need to set up a company. But what is the best way of doing it? I'm not really a company - just an individual. So I don't think I need to set up a limited company or anything, but I'm a bit clueless about what I should do. Obviously I could Google it, but I prefer my search results to be peppered with sardonic advice on keeping my heaters on / windows down. Anyone got any advice? And what should I call it? Simply my name? I quite like the sound of The Richie Group, but that's a bit of a grandiose name for a no-mark like me. Have any other P+Bers set up their own company etc? Is there even a difference between a company and a business? I had to set up an umbrella company back in the paisley Road West days because I was mainly jumping from one short term contract to another. Can't remember much about it but the process was pretty easy in itself. I think there was a mob that I did it though who did all the legwork and no doubt took far too much money off me for whatever minuscule and simple admin tasks they persuaded me they needed to complete to make it so. Tax and all that stuff was an utter ballache and in the end when I got back into permanent work, it was a bit of a relief. So go for it mate. Richie's bitches has a decent ring to it imo Edited March 21, 2021 by madwullie 1 Quote Link to comment Share on other sites More sharing options...
Polarbear Posted March 21, 2021 Share Posted March 21, 2021 Contact your local Business Gateway for free advice and courses. 2 Quote Link to comment Share on other sites More sharing options...
invergowrie arab Posted March 21, 2021 Share Posted March 21, 2021 All I did was set up a business bank account in name of my company and got invoices to be paid into that account. Turnover is less than 1000 a year as it is just a hobby I do every month or so. I spend all the money on whisky. If your turnover is more than that i don't recommend this approach 6 Quote Link to comment Share on other sites More sharing options...
Thistle_do_nicely Posted March 22, 2021 Share Posted March 22, 2021 (edited) think in theory you just get the forms from Companies House and file away so would start with looking at the Companies House bits on the gov.uk website, but afaik there's a bit more to it than that i.e. you may have to register for VAT depending on your turnover. Also please find a way to register your head office on Ruel Street for maximum bants Edited March 22, 2021 by Thistle_do_nicely 2 Quote Link to comment Share on other sites More sharing options...
SlipperyP Posted March 22, 2021 Share Posted March 22, 2021 https://www.gov.uk/set-up-self-employed Easy stuff. 1 Quote Link to comment Share on other sites More sharing options...
Jacksgranda Posted March 22, 2021 Share Posted March 22, 2021 8 hours ago, Polarbear said: Contact your local Business Gateway for free advice and courses. Best advice so far, imho... 0 Quote Link to comment Share on other sites More sharing options...
RH33 Posted March 22, 2021 Share Posted March 22, 2021 @Shandon Par Decorator I believe may have just set up his own joinery company or some other trade.... 3 Quote Link to comment Share on other sites More sharing options...
Cardinal Richelieu Posted March 22, 2021 Author Share Posted March 22, 2021 Cheers for the advice guys. The only reason I don't want to set up a company is cos of the time / expense, but from what you guys have said, it doesn't sound too difficult. It's all moot anyway, cos I've just logged in this morning to be informed that I managed to delete every file from their Sharepoint folder, so my jacket is already on the shoogliest of pegs. 6 Quote Link to comment Share on other sites More sharing options...
Jacksgranda Posted March 22, 2021 Share Posted March 22, 2021 2 minutes ago, Cardinal Richelieu said: Cheers for the advice guys. The only reason I don't want to set up a company is cos of the time / expense, but from what you guys have said, it doesn't sound too difficult. It's all moot anyway, cos I've just logged in this morning to be informed that I managed to delete every file from their Sharepoint folder, so my jacket is already on the shoogliest of pegs. "Richelieu Semi Geeky Shit - f**k Ups Our Speciality". 1 Quote Link to comment Share on other sites More sharing options...
Boghead ranter Posted March 22, 2021 Share Posted March 22, 2021 10 hours ago, Rizzo said: set up as a sole trader This 9 hours ago, Polarbear said: Contact your local Business Gateway for free advice and courses. Definitely this. 2 Quote Link to comment Share on other sites More sharing options...
Helpma Posted March 22, 2021 Share Posted March 22, 2021 7 minutes ago, Cardinal Richelieu said: Cheers for the advice guys. The only reason I don't want to set up a company is cos of the time / expense, but from what you guys have said, it doesn't sound too difficult. It's all moot anyway, cos I've just logged in this morning to be informed that I managed to delete every file from their Sharepoint folder, so my jacket is already on the shoogliest of pegs. Ah, the low-tech approach to ransomware ... you did take back-ups first, of course? 1 Quote Link to comment Share on other sites More sharing options...
Cardinal Richelieu Posted March 22, 2021 Author Share Posted March 22, 2021 2 minutes ago, Helpma said: Ah, the low-tech approach to ransomware ... you did take back-ups first, of course? Backups are for pansies. Basically I assumed Sharepoint worked like OneDrive, i.e. you can delete local copies. But it turns out if you download the docs to your PC then delete them locally, then it deletes them for everyone everywhere. They should be able to recover the files. Although my offers to help have gone down like a cup of cold sick. Never have I felt more like Mark in this bit of Peep Show. 0 Quote Link to comment Share on other sites More sharing options...
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