Thanks ubiquitous, I suspected that might be the case.
Maybe there might be some other way which one could become an employee.
For example;
Get four people A, B, C & D and two companies X & Y.
A & B are directors of company X and employees of Y
C & D are directors of company Y and employees of X
That's probably a bit complicated though. Maybe there's an easier way with just two people.
Is it because the director has 50% that he cannot be on Class A? I have 14% shares of a company and when i was a director i was on class s but i asked the accouant to move me to class a and he did just said it would cost extra.
Thanks ubiquitous, I suspected that might be the case.
Maybe there might be some other way which one could become an employee.
For example;
Get four people A, B, C & D and two companies X & Y.
A & B are directors of company X and employees of Y
C & D are directors of company Y and employees of X
That's probably a bit complicated though. Maybe there's an easier way with just two people.
I am a full-time paye worker and have set up a company to do additional work at the weekends (I'm a 50% owner/director). The additional work is a sideline activity and is not intended to become my main employment or source of income. The questions I have are:
1. does this make me a propietary director even though it is not my main source of income?
2. do I need to complete from11 returns or can I continue with form12?
3. on the references to the paye tax credit above: am I still entitled to this on my paye income or does being a director mean I no longer get it at all?
I am a full-time paye worker and have set up a company to do additional work at the weekends (I'm a 50% owner/director). The additional work is a sideline activity and is not intended to become my main employment or source of income. The questions I have are:
1. does this make me a propietary director even though it is not my main source of income?
2. do I need to complete from11 returns or can I continue with form12?
3. on the references to the paye tax credit above: am I still entitled to this on my paye income or does being a director mean I no longer get it at all?