ok I'm going back to permie work(hopefully) after being a contractor for a while. My accountant wants to charge me £150 a year to keep my ltd company dormant in case I go back to contracting. I do want to keep my ltd company's name though so keeping it dormant is a good idea.
But...
1. I think £150 is a lot - is anyone doing this and is it easy to do?
2. What will happen with my tax returns? When I was permie before I never did any self assessments only when I became a contractor and this was done by my accountant. Do i still need to do this or not anymore since I will be a permie?
3. If I'm not doing tax returns anymore - how do I declare my extra income received from renting a house?
I guess what I want to do is get rid of paying my accountant who wants to also charge me an extra £150 a year to include my rental income in my tax returns.
many thanks
But...
1. I think £150 is a lot - is anyone doing this and is it easy to do?
2. What will happen with my tax returns? When I was permie before I never did any self assessments only when I became a contractor and this was done by my accountant. Do i still need to do this or not anymore since I will be a permie?
3. If I'm not doing tax returns anymore - how do I declare my extra income received from renting a house?
I guess what I want to do is get rid of paying my accountant who wants to also charge me an extra £150 a year to include my rental income in my tax returns.
many thanks