Get an accountant - which you'll need anyway for a LTD

Basics are that you'll pay yourself the max tax free allowance per year (if your profits allow), currently you can then take another £2k tax free and then dividends starting at around 7.5% tax off the top of my head - corporation tax as well.

A decent accountant will deal with all the in's and outs of whats allowed and generally their costs are covered by what you may save

Posted By: inutero on May 19th 2020 at 16:30:00

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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