Quote:
Originally Posted by Hugh
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Good news! Thanks for the link Hugh.
---------- Post added at 13:24 ---------- Previous post was at 13:08 ----------
Quote:
Originally Posted by Osem
A quick check of the Companies House website will reveal how many wealthy celebrity types run their affairs in this manner.
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And the not so wealthy. In my sector many one-man-bands like myself run our affairs this way and not just for tax purposes. As a limited company clients, suppliers etc can only sue the company, not myself personally, so long as I have acted in good faith and professionally. Only company assets can be siezed in pursuit of defaulted debt payments.
It is also the case that many larger companies that come to the independant sector prefer to work with a properly constituted limited company that is also VAT registered. I take care of payroll, VAT, dividends, liability insurance and sending out quotes, whilst the client just deals with specifications, contracts / purchase orders and final payment.
There is one other aspect where HMRC really needs to tighten up is where somebody, like a footballer, is only really employed by one employer (The club) and is likely to be in contravention of
IR35. They seem to wangle a way round this.
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History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
