Originally posted by dynamicsaxcontractor
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Form own LTD or use Wife's?
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Hi folks, just to let you know that the company accountant has advised that he can see no sound argument against me becoming a director/shareholder in my wife's company.
There are no overriding TAX implications because I am a working director making money for the business (the larger share of the income will come from me) and not joining to just take a salary for some ad-hoc work or whatever.
We can continue to use the Flat Rate Vat scheme as the threshold is £150, and we are below that level of VAT taxable company turnover.
Sorry if I have not covered off all the points raised but thanks for your interest and assistance and I will continue to monitor this thread in case there are any further points raised.
I note the new comments re. IR35, but that is not another fine kettle of fish I wish to get into right now. I'll just make sure the contract is professionally IR35 checked and get on with it. I'm a Director of a business for goodness sakes! Where's my cigar!Comment
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Originally posted by techadept View PostHi folks, just to let you know that the company accountant has advised that he can see no sound argument against me becoming a director/shareholder in my wife's company.
There are no overriding TAX implications because I am a working director making money for the business (the larger share of the income will come from me) and not joining to just take a salary for some ad-hoc work or whatever.
We can continue to use the Flat Rate Vat scheme as the threshold is £150, and we are below that level of VAT taxable company turnover.
Sorry if I have not covered off all the points raised but thanks for your interest and assistance and I will continue to monitor this thread in case there are any further points raised.
I note the new comments re. IR35, but that is not another fine kettle of fish I wish to get into right now. I'll just make sure the contract is professionally IR35 checked and get on with it. I'm a Director of a business for goodness sakes! Where's my cigar!
If your company is the best place to work in, for a mere £500 p/d, you can advertise here.Comment
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