Well, here’s some news.
On 15 August 2017 we closed our Limited Company called PCGraphics (UK) Limited.
But, that’s only half the story. Read on…
Admin, admin, admin. Yes, a lot of it is necessary but, especially with a small business, you can easily get swamped by it. The last straw was probably being forced to go through the motions of setting up pensions (we’re a one man, one woman team who don’t employ anybody else – we use subcontractors when necessary) when patently neither of us wanted them. And yet the government insists you do it.
Then there’s the filing of accounts and Annual Returns every year, VAT every quarter, plus other admin and associated costs of simply running a Limited Company. And, get it wrong or file your returns late and you get fined by HMRC.
Anyway, enough to say that for the size of our business we were getting bogged down by the administration associated with it.
So, we closed the Limited Company. ‘Dissolved via voluntary strike-off’ it’s called, incase you’re wondering.
But, we’re still in business. Still drawing maps. Life continues.
Now we’re trading simply as PCGraphics. We shortened the name and our bank account has changed, but that’s about it. Oh, and we don’t have to file returns to Company House or pay accountants (although, having said that, our last accountant, Nicola Jones at My Accountant Online was very good. We recommend her.) And, as there’s two us us, we can spread the income and keep our turnover below the threshold where you have to charge VAT. Again, much simpler.
Since August, we’ve been operating as Sole Traders or self employed as most people call it.
So, yes, the Limited Company is gone but we’re still here.
And that’s the news flash over. Have a great day!