Sunday, November 14, 2010

do i need an accountant and a partner if i want to create an ltd?

do i need an accountant and a partner if i want to create an ltd?
i want to open an ltd, i searched the web and found that there should be 2 people to create it... and i'm not sure if i need an accountant... what if it is a small company? and what if it grows? p.s. i want to create a ltd by myself, with no partners... and what if i do not need an accountant? what should i do to follow the law? how much does an accountant costs? monthly/yearly...
Small Business - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
To start a legal partnership (Ltd, LLP, LP) it is VERY helpful to have an accountant. Unless you can prepare the Form 1065, Schedule B and Schedule K-1 on your own during tax time, then you will definitely need an accountant. Also you should get some consultation from a lawyer as to how to set up a limited company since you may acquire partners later on.
Answer 2 :
yes, you need an accountant, and its advisable to get one so that you are claiming all you should be No -you don't need a partner, my son has an LTD company and works for himself,
Answer 3 :
You do not need an accountant to set up a limited company, but unless you know exactly what you are doing it is very wise to. It is possible to buy companies online, but often there are problems with previous directors and the articles. It used to be the case that you needed two directors, one of whom acted as company secretary, but this is no longer the case and now you only need to have one director. One question I feel you should ask is why you want to have a limited company. A good accountant will be able to advise you on all the options available to you and could avoid you making a costly mistake. I hope this is helpful to you, Karen Turl AFA UK Tax Accountant
Answer 4 :
No you do not need an accountant nor do you need another director. Those days are gone. To follow the law well, that is where you may wish to consider employing an agent. Your agent is there to guide you and keep you compliant with regards all aspects of your tax affairs. Indeed they can really help with your business needs also especially if your company grows. Fee;s normally are related to the amount of work involved and therefore its hard to say. A smallish company employing 2-5 people doing VAT, and Employee returns, preparing accounts for submission, well approx 1500-2500 but it can vary. Look, arrange an appointment with an agent in your area, explain the business and they will give you a guide to both the aspects concerning compliance and their costs and take it from there. But No you are not obliged to have an accountant or another person involved but I would strongly suggest you consider the accountant. Tax Doctor

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