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Ltd tax
6

autumnglow · 03/02/2017 14:11

Have to set up a self employed and as a LTD company. How much should
I set aside for tax purposes?

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Sammysquiz · 03/02/2017 14:36

Corporation Tax is charged at 20% of your profits.

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autumnglow · 03/02/2017 17:38

Thank you. Am I right in that i don't need to set aside NI as a director? Do the rules change in April due to IR35 (I'm not that sure of the rules yet)

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Sammysquiz · 03/02/2017 17:42

It depends - this is a useful link.
Do you have an accountant?

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autumnglow · 03/02/2017 23:54

I'll have a look at the link in a bit, yes I have an accountant but haven't used him since informed the company.

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HelenDenver · 03/02/2017 23:59

how much do you plan to pay yourself? Directors are paid under PAYE and NI is due if salary is over the LEL.

Dividends are less tax efficient than they were, but it may be possible to draw dividends and save NI.

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HelenDenver · 04/02/2017 00:00

IR35 is about selling your services and whether or not you should be viewed as an employee of your client.

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