Hi folks,
I suspect many of us have ltd companies that are sitting idle whilst we are on inside IR35 roles and contemplating whether to keep company going in case of future outside IR35 roles or shut company down via MVL.
With hindsight, I should've MVL'ed 2 years ago. I'm currently getting into DevOps and Cloud technologies and there appears to be a lot more outside roles in this field, so not sure if I want to MVL the company.
I was thinking how to keep the company going in a tax efficient manner, do you think there is anything wrong with the following:
My wife does not work, as I understand rules, you are allowed to gift your spouse shares, if I were to gift all my shares to my spouse, she could then take out dividends upto the £50k mark to keep in the 20% tax bracket each year?
Is there anything wrong with going down the above approach?
Before NorthernLad jumps in and says "ask you accountant?" - I don't have one currently, I think quite a few people would be in this position so might help a few people.
Thanks,
I suspect many of us have ltd companies that are sitting idle whilst we are on inside IR35 roles and contemplating whether to keep company going in case of future outside IR35 roles or shut company down via MVL.
With hindsight, I should've MVL'ed 2 years ago. I'm currently getting into DevOps and Cloud technologies and there appears to be a lot more outside roles in this field, so not sure if I want to MVL the company.
I was thinking how to keep the company going in a tax efficient manner, do you think there is anything wrong with the following:
My wife does not work, as I understand rules, you are allowed to gift your spouse shares, if I were to gift all my shares to my spouse, she could then take out dividends upto the £50k mark to keep in the 20% tax bracket each year?
Is there anything wrong with going down the above approach?
Before NorthernLad jumps in and says "ask you accountant?" - I don't have one currently, I think quite a few people would be in this position so might help a few people.
Thanks,
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