Ltd company ... things needed??

[Alan @ BroomeAffinity]

Your accountant is wrong (unless your wife has a £36k+ income). The income shifting rules are not in effect until next year so I'd jump through the loophole until its closed.

[lambrini_socialist]

Your accountant is wrong (unless your wife has a £36k+ income). The income shifting rules are not in effect until next year so I'd jump through the loophole until its closed.

i do feel inclined that way, but without accountant support, i'm reluctant...

[Lewis]

hmm, i'm with one of the big names mentioned frequently on here. i'm still getting up and running, no invoices actually banked yet, so i don't want to go off-piste with my company's financial affairs until i'm feeling more confident...

It is completely legal, not in any way "off-piste". Who are your accountants? I would advise asking them why they don't advise it. I'd be interested to hear their response because I am not aware of any reasons. HMRC lost the case, end of story. Until they change the law which they have said wont' take effect until next year you are free to do it.

EDIT - always double check your accountants, they are not always right!

[Cheshire Cat]

It is completely legal, not in any way "off-piste". Who are your accountants? I would advise asking them why they don't advise it. I'd be interested to hear their response because I am not aware of any reasons. HMRC lost the case, end of story. Until they change the law which they have said wont' take effect until next year you are free to do it.

EDIT - always double check your accountants, they are not always right!

WHS, you've effectively been given 1 year carte blanche to take advantage of your spouse's tax allowance. After that, who knows, perhaps they won't even follow through with the law change, but until the start of next tax year, at the very earliest, it's absolutely LEGAL.

[lambrini_socialist]

It is completely legal, not in any way "off-piste". Who are your accountants? I would advise asking them why they don't advise it. I'd be interested to hear their response

to paraphrase, because it may be regarded as income-shifting when the new finance act (presumably they mean the FBT) happens, and this could potentially result in a retrospective tax bill.

[malvolio]

to paraphrase, because it may be regarded as income-shifting when the new finance act (presumably they mean the FBT) happens, and this could potentially result in a retrospective tax bill.

No it can't. End of.

[EvilWeevil]

presumably i can just sell her (for example)

That tends to be frowned upon in this country, I'm afraid.

[malvolio]

That tends to be frowned upon in this country, I'm afraid.

Well d'uh... You'd have to charge VAT for one thing...

[Lewis]

Well d'uh... You'd have to charge VAT for one thing...

Only if she is owned by the company. If he personally owns her he could just put her on ebay.