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View Full Version : Apparently, if I want to take on an assistant I need to register as a limited company



EmmaReed84
13-08-2013, 07:58 AM
:angry: DH! He has just read Alan Sugar's book and we were chatting about me hopefully expanding (either me taking on an apprentice or working with MIL) and he said "Well, before you do anything you better register as a limited company!"

What?! He has told me that there is no way I am "allowed" to expand and take on safe unless I register as a limited company so if my business goes "boobies" up then it does not affect our personal life. He also said I am not "allowed" to hire staff until I am full bursting at the seams and going over my numbers!

He is quoting all things from Alan Sugar's book, he thinks now he has read it, he is some business superman!

I want to give him a wedgie and kick him out the house now LOL!

Bumble Beez
13-08-2013, 08:11 AM
I want to give him a wedgie and kick him out the house now LOL!

That quote alone has made my day :) :laughing:

Although...I didn't think you had to do all that just to have assistants and increase numbers etc...
I can see the point of going ltd so that nothing comes back on you personally and makes you need to sell up etc...extreme case I know...
But if that was the case then I don't think a lot of people would expand...but it seems commonplace now?!
Maybe I need this book...hmmm...

EmmaReed84
13-08-2013, 08:17 AM
That quote alone has made my day :) :laughing:

Although...I didn't think you had to do all that just to have assistants and increase numbers etc...
I can see the point of going ltd so that nothing comes back on you personally and makes you need to sell up etc...extreme case I know...
But if that was the case then I don't think a lot of people would expand...but it seems commonplace now?!
Maybe I need this book...hmmm...

The thing that is making me mad at him is the fact I am talking about the "what ifs" and just working my way through how it all works yet he is talking like I am about to jump in with both feet next week while I still have my own vacancies to fill. No matter how many times I have said to him I am just "researching" it all.

I am the sort of person who needs to know EVERYTHING about what I want to do/going through/illnesses etc... I am a researcher LOL

smurfette
13-08-2013, 08:33 AM
The thing that is making me mad at him is the fact I am talking about the "what ifs" and just working my way through how it all works yet he is talking like I am about to jump in with both feet next week while I still have my own vacancies to fill. No matter how many times I have said to him I am just "researching" it all.

I am the sort of person who needs to know EVERYTHING about what I want to do/going through/illnesses etc... I am a researcher LOL

My dh is exactly the same and sometimes I am just processing it aloud!

rickysmiths
13-08-2013, 09:06 AM
The thing is if your cm business is going to get that big is it really cm or a Nursery? When do you cross that line?

To me cm is in your home and with a small number of children, that is why parents choose cm isn't it? Home from Home care. If they want a larger style environment with staff then they choose a Nursery.

If this is the style of care you want to offer then yes set up a Nursery in your home and then you would need the appropriate planning permission to change the use of your home from Residential to business, you would be wise to set up a Limited Company and then when you give up and sell that home be prepared to pay Capital Gains Tax.

EmmaReed84
13-08-2013, 09:14 AM
RS, my long term goal is to look at a nursery, but not for another at least 10 years!

With the assistant thing, I was literally talking about taking on an apprentice and few more children. My house is not big enough for 12 children and 2 adults, I could easily accommodate 6 under 5's (obviously with an assistant) and then a few over 5's.

The way DH is talking it's like he thinks I am going for world domination by Christmas...

It is only thinking about things at the moment anyway, what direction do I want to go, where do I want to be in 15/20 years time etc.

Chatterbox Childcare
13-08-2013, 12:33 PM
The thing is if your cm business is going to get that big is it really cm or a Nursery? When do you cross that line?

To me cm is in your home and with a small number of children, that is why parents choose cm isn't it? Home from Home care. If they want a larger style environment with staff then they choose a Nursery.

If this is the style of care you want to offer then yes set up a Nursery in your home and then you would need the appropriate planning permission to change the use of your home from Residential to business, you would be wise to set up a Limited Company and then when you give up and sell that home be prepared to pay Capital Gains Tax.

I am just looking into going down this route myself - I am told no capital gains as it is still part my home