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ben9090 ben9090 is offline
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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.

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