Partnership Query

Hi
I am in the PAYE system.

I am hoping to set a new business towards the end of this year with a friend of mine. My friend is self-employed. I intend on keeping my full time PAYE job and having an involvement in the new business on a part-time basis.

I earn approx 70k. I am wondering what would be the best way to approach the new business from a tax perspective, setup a partnership, limited company etc?

Thanks

It really depends on your personal circumstances and the level of business activity.
From a taxation perspective, there are much more tax planning opportunities with Ltd companies. However, you should never base a business decision on the tax implications it should also make good commercial sense. If you want to PM with some more details I could give you a more detailed answer.

Why PM? Share the information!!!