Hi Folks,
I've searched the forums and drawn a blanks hence the post; wouldn't be at all surprised if this has been asked many times before however so apologies for that.
I am starting-out as a LTD contractor for the first time, my wife is currently contracting a 3 day week with her own LTD. she also has a separate Personal Coaching sideline which is currently operating at a loss (ie. she is funding some expensive training with only 1 paying client as its a very new venture).
My question is, should I form my own LTD or work for her?
Obviously I'd like to chose the most tax efficient route.
I will be working full-time on a day rate, we are both in IT, she has limited expenses (apart from the current run of training courses) and I will have higher regular expenses as I will be working away during the week, so incurring mileage and other daily expenses.
Your advice would be appreciated!
I've searched the forums and drawn a blanks hence the post; wouldn't be at all surprised if this has been asked many times before however so apologies for that.
I am starting-out as a LTD contractor for the first time, my wife is currently contracting a 3 day week with her own LTD. she also has a separate Personal Coaching sideline which is currently operating at a loss (ie. she is funding some expensive training with only 1 paying client as its a very new venture).
My question is, should I form my own LTD or work for her?
Obviously I'd like to chose the most tax efficient route.
I will be working full-time on a day rate, we are both in IT, she has limited expenses (apart from the current run of training courses) and I will have higher regular expenses as I will be working away during the week, so incurring mileage and other daily expenses.
Your advice would be appreciated!
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