Self Employment Vs Limited Company which is the best way to go? Well there are pros and cons to each. A Limited company means you will have to have all your accounts audited by an accountant which will cost you around £500. However there are substantial tax benefits from being a Limited company as you […]
Being self employed has many benefits, but one of the biggest downers is having sort out your own taxes, or at least get your accountant to do so. Also because tax isn’t taken at the point of receiving payment, like ordinary employed workers you will have to be careful to leave a reserve of money or else you may be faced with a big tax bill and nothing to pay it with.
Typically self employed people get a bad deal with getting competitive mortgages. The reasons why are obvious; to the lender they are a risk, an unknown quantity. They could earn £100,000, but only £10,000 the next year, so it’s clear why lenders are cautious.