Limited Liability
I've decided that I will stick with the first accountant that I found online. I had an appointment with him a few weeks ago and he spent an hour to inform me. I have no clue if what I'm doing is the right thing to do but I did look into other accountants and they all seem to miss that extra bit of service that I'm in need of. Another thing is that he's close-by so I won't have to waste money on stamps [and paper] and can go over there whenever I have to. If my gut feeling will tell me a different story over time then I will look for another one but for now I think I'll be fine.
Tomorrow I'll have an appointment with him to finally get things going as in setting up my own business. I'm excited but also kinda scared. I don't know... I seem to have mixed feelings but I'm sure things will work out just fine. I guess it's because I'm not used to the system here and I know my way around the system in the Lowlands. But I reckon there are plenty of people that I've met so far who are willing to help me if I have questions. It can't be that hard, can it? I just wish there was a book available about freelancing and what to expect and not to expect. I had a good one in the Lowlands, they would update and publish the book each year and it covered all sorts of problems you could run into. I miss that kind of information over here, but perhaps I just don't know where to look.
Today I filled in three different forms and will fill in the gaps with my accountant tomorrow. I have to bring all sorts of official papers to prove my identity and the fact that I do actually live here. I had to write a cheque tonight, something that is ancient to me. I do miss the Dutch payment options, they're so much more sophisticated than the ones over here although things are changing. Cheques were banned from the Dutch system around 2000 probably earlier, in favour of direct bank transfer and electronic payment. And I guess I haven't used them for at least 10 years.
My cheque writing skills are therefore a bit rusty and I need to look up an example online to see how I'm supposed to write one. I hope they will change to electronic banking over here, it's so much easier and it will save a lot of paper thus trees. I don't understand that for each cheque that I write and send to the 'payee' I will have to use a separate envelop and a stamp to send it to the person that I need to pay. This person has to take it to his/her bank to have the money transferred into their bank account. It just doesn't make sense to me but I'll stop nagging. I hope I did well on writing that cheque, I guess my accountant will notify me since it includes his fee too *hehe*.
I asked Maurice to be my secretary, since a company director needs to have a secretary. It's all just formalities really but it's nice in a way and since I'm not sure if I will need his signature tomorrow I asked him to be on stand-by. We might have to meet up tomorrow evening if that is the case. I need the papers send out asap because next week I'll have another important appointment and I'll need to bring a letter from my accountant and proof that I've actually set up the Ltd. So much to arrange but so positive and fun to do.
Tomorrow is going to be another small step on my way to independence and I'm so looking forward to it! Keep your fingers crossed for me I could use a bit of luck this week and even more next week!
fingers are crossed
Thanks Stuart! All is going well and I should have the papers in on either Tuesday or Wednesday. I feel positive and it gives me a real buzz! :)
Hi Tess,
Congrats on the new business. I trade as a sole trader, a lot simpler than limited as I generally don't do much print so am mainly charging for my time. If I can help with any info about freelancing give me a shout I am happy to help, I have been freelancing for about 3 years know and remember how daunting it was in the beginning. If you want a bit of publicity take part in my freelancer focus too.
Hi Tara,
thank you! and thanks for your kind offer. I might have to take you up on that some day, I could really use some advice. I would love to take part in your freelancer focus but would rather wait a while until things start to roll but I will definitely let you know!
Sounds like you're on your way. . . congrats and hope it works out!! I remember setting up my business, meeting with accountants and lawyers and it can be intimidating when they can't use normal language and have you sign all those papers written in such a way. But it's really not a big deal, especially when you don't have partners like I did. ;-)
Wow... no checks? I still have to use them for a few bills.
Like ones I needed to do online at sites that became (?) Mac unfriendly. I wrote them and of course got the usual corporate replies . . . so I told them bye, bye ;-)
Hi Jim,
I am on a roll :) and thank you! It is important to me because it's all new and I need to learn a lot about the tax system here, it is different from the Lowlands. It's not as simple as some might think it is...
Like Tara said especially an Ltd is more complex since you have far more responsibilities towards the tax people and greater administrative responsibilities to Companies House. [Annual reports need to be prepared and submitted to the Companies House for the public record].
In UK we do have cheques, just not in the Lowlands so I have to look things up each time I have to write one :)