This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more hereX

Home > Discussion Forum

Discussion Forum

Prev Previous Post   Next Post Next
ben9090 ben9090 is offline
Starting Out
Join Date: Aug 2002
Posts: 13
Limited Company Query

I have a query on limited company tax on profits. Off the top of my head I think I saw that if profits were less then 10,000 pa tax is 0. Is this correct?

I am intending to offer my services and set up a company which I would hope will make 25k profit in year 1. With sales of 50k and 25k wage. (To make it a simple example forget overheads and other costs etc.)

What would be stopping me splitting my company into 3 seperate companies each with sales of 16.66k, profit of 8.3k and pay myself 8.3k from each company.

I know my personal income tax would be the same but what about the ltd co tax on profits? Each Co would only make 8.3k so it this not taxed?

I will see an accountant soon but just want to try and get my head round as much as possible first.

Thanks
Reply With Quote
 

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT +1. The time now is 04:44 AM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd. Copyright Shell LiveWIRE 2005-2009