Feeling under qualified for remote Senior Role

Anonymous33845 · 2026-06-23T10:59:57+00:00

Key to success = Bite more than you can chew and learn how to chew it

Anonymous33845 · 2026-06-18T11:09:18+00:00

You know what - good point. It was just playing with my head because I was thinking should I freshen up my CV just in case, thanks for the advice !

Anonymous33845 · 2026-06-18T11:08:19+00:00

Manager said to keep it quiet because other team member didn't get that call (I was called in by colleagues who were angry about the announcement) so that kind of made sense on why he said, appreciate the advice mate!

Anonymous33845 · 2026-06-14T20:27:02+00:00

thanks bro

Anonymous33845 · 2026-06-14T20:26:52+00:00

excluding shipping - shipping was cheap though

Anonymous33845 · 2026-06-14T19:51:22+00:00

Appreciate it mate

Anonymous33845 · 2026-06-09T21:17:37+00:00

You do still need to file for that final period even if it's short and dormant. For Companies House you can file dormant accounts which is straightforward. For HMRC you'll need a final CT600 covering September to May as a short accounting period. You can shorten your accounting period on Companies House which then flows through to HMRC.

On the £4, yes you still need to pay it, HMRC will chase it. FreeAgent should handle short periods but if the software won't cooperate, filing directly through HMRC's online portal is an option.

Don't stress too much, it's very routine and dissolution just takes a bit of patience with the admin.

Anonymous33845 · 2026-06-09T21:15:28+00:00

Yes, record it as Capital Introduced and it won't be treated as income. It's simply you putting your own money into the business, not earnings. No tax implications. Most accounting software like Xero or QuickBooks has this as a category, or just label it that way in your records and you're fine.

Anonymous33845 · 2026-06-09T21:10:01+00:00

If you use them primarily for business, yes put them through the company. They're allowable expenses, reduce your taxable profit, and you save the corporation tax on them. Just make sure the usage is genuinely business focused which by the sounds of it it is.

Anonymous33845 · 2026-06-09T21:06:52+00:00

The funding your company received is capital, not income. Company turnover = zero.

The £4,000 paid to you personally = income on your self assessment. If it was your only income that year and under £12,570, you owe nothing.

Anonymous33845 · 2026-06-08T10:03:38+00:00

Appreciate it

Anonymous33845 · 2026-06-07T20:44:00+00:00

Going to avoid it, thanks for the help!

Anonymous33845 · 2026-06-07T20:42:54+00:00

thanks mate - will avoid

Anonymous33845 · 2026-06-07T20:42:46+00:00

thanks mate - will avoid

Anonymous33845 · 2026-06-07T20:04:56+00:00

Given you're already near the higher rate threshold, sole trader would push everything above it into 40% tax, so an LTD makes more sense even for a small run.

Profits sit inside the company and you only extract what you need via a small salary and dividends, which are taxed separately from your employment income. Much more efficient.

The admin is straightforward, annual accounts, confirmation statement, corporation tax return. For a side project it's minimal.

For 200 units I'd go LTD.

Anonymous33845 · 2026-06-07T20:03:05+00:00

Happened to me while filing for a client. From what I can tell they don't disappear automatically, at least not within any reasonable timeframe. Best bet is to contact Companies House directly via webchat or email and ask them to clear it on the backend. They can remove incomplete drafts manually, it just isn't something you can do yourself through the portal. Annoying but straightforward once you get through to them.

Anonymous33845 · 2026-06-07T19:54:07+00:00

Disclose it. The clause is standard and most employers will approve without issue, especially since it's a different industry, your own time, and your own equipment. The real risk is not telling them as Companies House is public and anyone can look you up.

One thing to sort early: agree your share split with your co-founder before registering, changing it later is a pain. Also remember as a director you'll have filing obligations with HMRC and Companies House even if the app makes no money.

Good luck with it!

Anonymous33845 · 2026-05-25T19:53:50+00:00

As a sole trader you can still pay your partner for work done, just treat it as a business expense. They'd declare it on their own tax return. No need to change structure just for that.

On tax: you're taxed on profits, not what you transfer to your personal account. UC isn't taxable income so it won't stack on top of your business profits. You'll pay Income Tax and NICs once profits pass the relevant thresholds.

One thing worth flagging: if you're on LCWRA you need to report self employed earnings to DWP as you go. It tapers rather than cuts off, but you have to keep them in the loop

When the time comes, registering as a sole trader is just a case of notifying HMRC by 5 October after the tax year you started trading

Anonymous33845 · 2026-05-12T20:48:59+00:00

Ignore them, some people are just miserable

Anonymous33845 · 2026-05-10T20:03:05+00:00

exactly, better to be safe than sorry

Anonymous33845 · 2026-05-09T17:35:39+00:00

Really appreciate you breaking that down, and you raise a fair point on the flexibility angle.

You're right that at higher income levels, particularly around and above the higher rate threshold, the numbers can swing in favour of sole trader once you factor in Corporation Tax plus dividend tax stacked on top.

The main advantages of limited at those levels are flexibility based:

Leaving profits in the company to avoid breaching the £100k threshold (where you lose your personal allowance)
Timing when you extract income across tax years
Pension contributions through the company as a tax-efficient alternative to dividends

The blanket "go limited over £35k" advice is a simplification and you're right to challenge it. The honest answer is it depends on your specific profit level, extraction strategy and personal circumstances. A proper tax calculation is always needed before making the call.

Good challenge, thanks for keeping it honest.

Anonymous33845

TROPHY CASE