esperanza2
Registered User
- Messages
- 51
No you pay your income tax now for 06 and prelim for 07. In 2008 you will be taxed as paye
Why will I be taxed as paye from 2008? I didn't say anything about becoming a PAYE paying employee!
How do you intend to survive then if you won't be taking any income from the company?
I said I was self-employed, that means I am a sole trader. I didn't found a company. god, how people jump to conclusions here! If you're not sure, then ask questions, but please don't make presumptions!
Seems you didn't read my post correctly.
i have decided to set up a Limited company in January of next year and therefore cease my self-employed activities.
Excuse me but you did say...
ps. Seems you didn't read my post correctly.
Yes, I did. I haven't yet set up a limited company. I'm just setting it up, I won't be employed by it.
Yes that's why I was wondering how you intend getting paid by the company for the work you will be doing. Directors salary is the route used by most directors in your position. It is taxed on the paye system, and if you receive a salary you are treated for paye purposes as an employee. Other alternatives such as dividends are generally not as tax-efficient. Hence my question...
If they intend to take money out of the company in the form of salary or fees, yes.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?