Hi All,
Have searched, but couldn't find anything specific regarding financials.
Outside role is coming to a natural end after 2 years operating via limited, exploring new roles, and been approached with a number of inside IR35 roles with a higher day rate which almost bridge the gap.
Issue being, over the 2 years I have financial commitments now from my limited, phone, car, etc - from discussions with the accountant, he has advised its possible to go inside, via an umbrella, and the umbrella pays the Limited company. Taxes would be deducted via umbrella, and it would be treated as PAYE once in the Ltd, so withdrawing it wouldn't be classed as a dividend, and for corp tax the company would be viewed as running at a loss, so no liability there.
However, only certain expenses can be paid from the Ltd, which doesn't include a lease car for instance which is quite a large blocker.
Has anyone been in this situation, and gone through with an inside role, but attempted it via their limited? How did you handle any existing financial commitments? I guess I could pay back into the company via a directors loan to continue car lease & phone payments?
Ultimately, holding out for outside roles, but just wanted to explore plan B.
Thanks
Have searched, but couldn't find anything specific regarding financials.
Outside role is coming to a natural end after 2 years operating via limited, exploring new roles, and been approached with a number of inside IR35 roles with a higher day rate which almost bridge the gap.
Issue being, over the 2 years I have financial commitments now from my limited, phone, car, etc - from discussions with the accountant, he has advised its possible to go inside, via an umbrella, and the umbrella pays the Limited company. Taxes would be deducted via umbrella, and it would be treated as PAYE once in the Ltd, so withdrawing it wouldn't be classed as a dividend, and for corp tax the company would be viewed as running at a loss, so no liability there.
However, only certain expenses can be paid from the Ltd, which doesn't include a lease car for instance which is quite a large blocker.
Has anyone been in this situation, and gone through with an inside role, but attempted it via their limited? How did you handle any existing financial commitments? I guess I could pay back into the company via a directors loan to continue car lease & phone payments?
Ultimately, holding out for outside roles, but just wanted to explore plan B.
Thanks
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