It used to be more beneficial tax wise than it is now I think. Since they

changed the dividend tax rates there is not a significant difference to a salary/income tax set up.

Your friend would need to be careful in terms of how much he pays his wife (needs to reflect what she actually does).

The IR35 thing is also relevant but my understanding is that it should be ok if you work for multiple different clients (subject to the usual caveat that i don;t know what i am talking about so please don;t rely on this).

Posted By: Jim on May 19th 2020 at 16:15:40

Message Thread

Query for sole trader / consultant / tax types (General Chat) - CWC, May 19, 15:05:41
- Pop your manservant in the table then..... (n/m) (General Chat) - helvegtheowl, May 19, 19:29:34
  - I'm not OG! (n/m) (General Chat) - CWC, May 19, 19:45:40
- ty all vvv (General Chat) - CWC, May 19, 18:06:53
- Some things: (General Chat) - Old Man, May 19, 17:22:10
  - Oh, and (General Chat) - Old Man, May 19, 17:24:05
- Get an accountant - which you'll need anyway for a LTD (General Chat) - inutero, May 19, 16:30:00
- Beware of IR35 (General Chat) - Old Git, May 19, 15:30:58
  - aye (General Chat) - CWC, May 19, 15:55:38
    - It used to be more beneficial tax wise than it is now I think. Since they (General Chat) - Jim, May 19, 16:15:40
      - In Nascar they have a saying..... (General Chat) - usacanary, May 19, 16:21:44
      - Also depends how many costs/overheads you can legitimately put through the business (n/m) (General Chat) - Jim, May 19, 16:16:31
- pretty much... In the US you set up an LLC/C Corp (General Chat) - usacanary, May 19, 15:15:55
  - I should add in the US and im assuming in the UK.... (General Chat) - usacanary, May 19, 15:19:37

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