I was just running though this in my head and did a search and got
confused.
If I'm a sole trader and am making say, £100,000 in a year - what are
my best options to pay as little tax as possible?
I always assumed that if I made a limited company the money wouldn't be
taxed on the way in and I could pay myself a yearly wage and ride it
just under the higher tax bracket.
But in my searching it appears that I would in fact pay tax on the
money entering the company too - meaning that I'd kind of be taxed on
both ends.
Is this right? If so - why bother registering as a limited company?
Re: How to pay myself ... >I am the sole director and 100% shareholder of a small limited company... >Obviously, I'd like to minimise tax, but I'm happy to pay a little bit ... >more tax than absolutely necessary if that makes things simpler. ... >also mean I have to personally register for national insurance, ... (uk.business.accountancy)
Re: Setting up a first time business ...business under your own name, you can call the business what you like ...tax return to pay any tax liabilities you have accrued over the year. ... A limited company is a seperate legal entity to you ... (uk.finance)
Re: Ltd company - more tax than sold trader? ... Normally a limited company, but in some cases a sole trader is better. ... taxed on the way in and I could pay myself a yearly wage and ride it ... just under the higher tax bracket.... (uk.business.accountancy)
How to pay myself ... I am the sole director and 100% shareholder of a small limited company. ... Obviously, I'd like to minimise tax, but I'm happy to pay a little bit more tax than absolutely necessary if that makes things simpler. ... But I do plan to get an accountant involved in the very near future. ... (uk.business.accountancy)
Re: anyone know any good truck driver newsgroups? ... Besides, if I did, like you, harden my heart to the world around me, those two would in fact soon pass away, and guess who'd have to heal my wife's grief, who'd have to pay for the burials and settle their outstanding bills.... I worked in the field for many years; I have been CFO of a Texas corporation auto dealership; I operated my own bookkeeping and tax service for six years. ... As to the wife's substantial earnings: if you have used even a nickel of it for living expenses and/or investments, then this alone negates your entire argument; that anyone can become a millionaire in a few years on even a trucker's earnings. ... (misc.transport.trucking)
