Have Your Say: Is it worth it for contractors to run their own company?

IR35 Test

Do you find it difficult to run your own company?

Certainly, there is a lot of paperwork and time involved. You have to keep the books, and watch out for things like VAT returns, and expense documentation. And you still have your own personal tax return to do along with the company return.

But many find that working with an accountant, the burden is not so heavy. The accountant does the heavy work, and, once you get in the habit, the day-to-day record keeping is not so onerous. It's certain that you save a good deal in taxes and on VAT.

So tell us: how hard do you find it to run your own company, and is it worth it?

Published: Monday, February 04, 2008

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Readers Comments...

This article has 1 comment.

Speech Bubble Added: Thu, 31 Jan 2008

Setting it up was time consuming, but now it is no bother at all. Once a month I raise one invoice, and every quarter I submit my transactions/receipts to my accountant and he does the rest - which takes about 2 hours.

Dave, London.

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