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by lifeisstillgood
4724 days ago
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Is that spouse-as-a-director trick legal ? (The idea is that if the company bills 100,000 pounds
it pays corp tax of 20,000. Then the director can withdraw the profit of 80k as a dividend. Since a tax has already been paid on the 100k the 80k is free of income tax. However income tax is charged at two levels in the uk (25% and 40%). The govt says that the first level of 25% has already been paid (by corp tax at 20%). The 40% only kicks in at 43,000 a year - so you can as a director withdraw 43,000 as dividend and not pay "extra" tax on personal income. The parent is suggesting your spouse can be a director and do the same, effectively making a 80k pa net household income on 100k revenue. (And if your are in a stable threesome it's even better :-) If it is legal send me your accountants number - my mail is in the profile! |
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By the way we met at one of the find a tech job meet ups recently. I'm interested in your OSS in government idea. How about you drop me a line next time you're in the city? I'm ben at perurbis.com (no website yet)