Originally posted by highlandspring
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Actually the Directorship role is quite straightforward wrt taxes due. Invoice the client at your agreed rate including expenses and so on. Put that money through YourCo's payroll as earned income with the usual taxes deducted. Any other company income from non-Director work you treat as normal, in or out of IR35 as you can best determine..
IR35 is then covered off, your taxes are correct and you have company income for other purposes - warchest, pensions, yacht, whatever.
It's how I used to do it and both the accountant and the client were happy with the arrangement.Blog? What blog...?Comment
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Originally posted by malvolio View PostActually the Directorship role is quite straightforward wrt taxes due. Invoice the client at your agreed rate including expenses and so on. Put that money through YourCo's payroll as earned income with the usual taxes deducted. Any other company income from non-Director work you treat as normal, in or out of IR35 as you can best determine..
IR35 is then covered off, your taxes are correct and you have company income for other purposes - warchest, pensions, yacht, whatever.
It's how I used to do it and both the accountant and the client were happy with the arrangement.Comment
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Director income
Splitting the income would work well. I will push ahead with that approach in mind. Invoicing separately for Dir and non-Dir duties and putting the same amount through PAYE
Checking the whole thing with a specialist before I commit.Comment
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