Should I employ myself and my wife to pay salary?

[cojak]

Yes, you're over-stretching yourself with IR35 Nick, unless you've seen the contract and know their working practices.

I wouldn't advise trying to FUD a contractor forum...

[Craig@Clarity]

WHS. Unless the OP has already been in touch with the said Accountant outside this forum, I wonder how the Accountant has come to the said conclusion.

I don't think he's been with us yet

[pmeswani]

I don't think he's been with us yet

Can I help you with that coat?

[Wanderer]

Yes, I think paying slightly less at £624/month may be a better salary as there will be no NI/PAYE due on that amount and net dividends of up to £31,488.

For some reason my accountant recommended £600 salary though.

You might want to pay your wife less salary depending on how much work she does for the company. If her input is negligible then just give her the shares/dividends and don't pay a salary - we hear that HMRC can get a bit grumpy if your spouse does no obvious work to earn her salary. I can't help but think of all those MP's wives who were paid a salary out of MPs expenses for doing bugger all though...

[psychocandy]

Yes, I think paying slightly less at £624/month may be a better salary as there will be no NI/PAYE due on that amount and net dividends of up to £31,488.

For some reason my accountant recommended £600 salary though.

Laziness because £600 is a round figure I guess.

[anddrew]

http://forums.contractoruk.com/accou...e-company.html

http://forums.contractoruk.com/accou...d-company.html

All threads here

wife site:forums.contractoruk.com/accounting-legal/ - Google Search

There is also a question hanging over making your wife a partner in your company. It can go horribly wrong if you start having problems. She will own half your company.

Thanks for this links.

I established my company only two months ago. Now some accountant told me it will be possible to add my wife as a shareholder retroactively (i.e from start of the company). Is this really possible?

[TheFaQQer]

I established my company only two months ago. Now some accountant told me it will be possible to add my wife as a shareholder retroactively (i.e from start of the company). Is this really possible?

Yes.