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creating a limited company while still fully employed
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i was just thinking ahead, can i apply for limited company now, while fully time employed, and not take any business until i get a contract. yes. you can open as many companies you want(assuming you are sane). there is no legal provisions regarding who can open a company.   what happens if i create a company and it has no turnover at all? does this complicate things later? after you open a company, you have to submit your yearly statements to companies house, whether you have a billion pounds turnover or 0. if you claim vat that has also to be paid after you register for vat. vat registration is another registration different from opening a limited company. is it the same if i decided to take a 1,2 or x month holiday and the company again will not incur any turnover? turnover is year end, so at the year end you have to submit your yearly results, whether you took a 12 month holiday or a week's holiday. is it a ok to do this in foresight or should i wait weeks before actually deciding to search for contracts. no need to open a limited company now, if you are so paranoid. opening a company in uk takes 5 minutes. so you can open a company after landing a contract.
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