Is it worth going LTD?

[FatAlan]

Older style public sector pensions are not sustainable hence the changes in recent years. I am however very cynical about the lack of value and the number of people that have been ripped off in private schemes. Sweeping comment here, but the whole financial sector is one great rip off that funds the inflated wages of fund managers all feeding off people's hard earned cash.

 

[davegeezzer]

Evening,

Im currently employed working shifts, on my days off i work for myself as a sole trader, roughly 2-3 days a week. Every penny i earn self employed i get taxed 40%. It got me thinking, is it worth going LTD to avoid this?

To the people that are LTD whats you experience and what are the pros and cons?

To the people that have though about going LTD but didnt go through with it, why not?

Thanks

Woody

I've had a ltd company for around 15yrs, I'm a sparks on the Railway working through agency's, Plus points :- it's the least tax you will ever pay I reckon on total stoppages from the gross earnings is 10% maximum, bad points:- it's very hard to get a personal mortgage ( though not impossible) as on paper your not earning anything,