Barristers wanting to incorporate may have to wait a little longer.
Ross Martin blogs:
After calling the BSB on Friday it seems as though the licensing of Alternative Business Structures (i.e. including limited companies) is still “out for consultation” and in the hands of the LSB to consider a number of technical details.
It is disappointing but they are now expecting to accept incorporation applications no earlier than January 2015.
This could however still allow you to avoid punitive rates of tax in the 60% bracket if you incorporate as soon as you can before the end of the financial year. This could easily save £4,000 alone so we would recommend you contact us to get right to the front of the queue.
The Peloton offer a ‘Barristers Incorporation Package’, including excel bookkeeping template, free HMRC sign-up, online support and much much more.
Packages start from £75 per month.
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Ross Martin ACA
If you’re wanting to incorporate or possibly re-structure your business, give Ross or one of the team a call on 01326 660022.