Auto-Ent vs EIRL

hi -
I'm looking for financial advice - or a financial advisor:
Wondering whether it would be better to stay auto-entrepreneur, or go EIRL, as I have a lot of expenses...


Thank you Micala - that's a lot of great info to start contemplating already.

Christian not sure where you are but you might want to talk to this lady

Having recently picked her brains about EI from AE there are clearly some major benefits to be had by changing regime from AE to EI. As AE your tax return has an allowance of 50%. If your expenses exceed 50% of your turnover, then clearly your tax return allowance is not sufficient. Plus there are many other expenses that you can allow for, plus your CFE bill each year too!! Your cotisations will be based on your previous previous years earnings which are paid quarterly in advance Example if you register as EI in 2015 your cotisations will be based on figures for 2013. But remember as AE we pay cotisations on what is earned, EI is not. The biggest thing to be aware of is that there are a number of horrendous stories where people have experienced excessive incorrect billing from RSI for cotisations. Once you are in EI it is quite difficult to come out. You will need an accountant - experte comptable. Also be mindful that when you engage the services of an accounant, if he screws up, it is your responsibility. It is assumed that british expats know what we are doing. The reality for many, is that we do not. The advice that has been shared from where I am, is ask lots and lots of questions, speak to people who have moved from AE to EI. Do your homework thoroughly before making the move. Although AEs need to take into account that at some point they will be required to move to the next regime if the threshold is exceeded by 10%. Hope this helps and the very best of luck