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Posted: Fri Jan 04, 2008 11:23 am
by Leeah.
If I have an IVA can I go self-employed and set up a limited company
Posted: Fri Jan 04, 2008 11:27 am
by ray_a
Hi Leeah and welcome to the forum.
Basically there will be no problem from a legal point of view!
However you will have a problem getting a limited company bank account as these are difficult to obtail whilst in an IVA as the banks reject people who are under an IVA.
Do you need to have a limited company and could you be self employed or is there a good reason for trading as a limited liability company.
Posted: Fri Jan 04, 2008 11:30 am
by pbeck
I suggest that you set up your limited company and bank account before you enter into an IVA.
Posted: Fri Jan 04, 2008 1:11 pm
by Leeah.
I was advised that going self-employed and setting up a limited company would minimise the amount of tax to be paid.
Posted: Fri Jan 04, 2008 8:43 pm
by MelanieGiles
Ray is a probably a better expert than me at tax, but I fell that there is little tax advantage these days if the limited company is going to have one director, one shareholder and one employee - ie you. With corporation tax rates going up and personal tax rates coming down, is there much difference now Ray?
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp