Question on company & employee tax

[d000hg]

On these boards, people seem to suggest that money you make can be taxed as both company income and then personal income, when you have your own ltd company. But I thought the whole point was you only get taxed as a company on your profits. If the entire company income (minus outgoing costs) is paid to you as a salary, surely you are in exactly the same position as if you work as a permie?
Am I correct here?

[Sockpuppet]

Yes, except you will also have to pay employer NI.

[Ardesco]

On these boards, people seem to suggest that money you make can be taxed as both company income and then personal income, when you have your own ltd company. But I thought the whole point was you only get taxed as a company on your profits. If the entire company income (minus outgoing costs) is paid to you as a salary, surely you are in exactly the same position as if you work as a permie?
Am I correct here?

Actually you are in a worse position as you are paying the employers tax and NI as well as the employees. This is why we have dividends to try and reduce our tax burden.

If you are going to take all the money out of your company as a wage you may as well go umbrella rather than LTD Co. The reason IR35 was introduced was to try and get us to take all of our money out of the company as a wage as you have suggested above.