Hope some one can help, if not i'll dig out the yellow pages tomorrow!

Myself and a collegue are looking to register the company we are setting up as a Private Ltd Company with companies house, we have the forms and process just about sorted but....

With regards to doing the accounts, we may have a small problem. We will only be running the company in our spare time as we are both still employed, so there is no gaurantee that any amount of wages would be earnt each week/month what should we do in this situation? My only thought so far would be to set targets very low incase there is no work available?!

Any advice appriciated.

Regards,
Dave.

 

The problem being?

 

Well I don't know that there is one, thats what im after

How would we declare how much we are paying our selfs straight away as we have no idea of the potential earnings.

 

Go low then mate!

 

Dave

Drop me a mail about your situation & more about your plans & i'll try & give you some pointers.

 

BL YHM

 

You dont have to pay yourselves anything...

You can if you want - if so:

1) setup a payroll (get a new employer pack from your local tax office)

or

2) You can raise a invoice from yourself to the business whenever the is spare cash - and declare it on your personal tax return. (and probable the most simple & cheap)

or

3) you can opt not to and just 'pay' yourself (the shareholders) dividends when there is the spare cash in the business...


Simple as that...

[Edited by rjs1000 - 4/9/2002 9:00:01 PM]