[squiffsquiff]

That's not how it's been used:

You set up an umbrella company with yourself as a shareholder

You pay yourself minimum wage, thus paying little income tax and national insurance

You then pay yourself and any other shareholders a dividend based on profits but this is taxed at a much lower rate than employee income and without national insurance

Advanced players set up their umbrella company in another country where the company taxes are even lower

[111615bd]

As far as I can tell, employing yourself via a limited company being cheaper is no longer true, contrary to what the turnkey company industry would like you to believe. With the higher rate for dividend tax being 33.75%, dividends that lead to a total income over 37700 are taxed at ~47% (dividend tax+corporation tax).

[djbebs]

What's wrong with that?