Like Mal I have a MyCo Ltd as I'm unable to do business with agents as a Sole Trader (which I have been for 2 decades). I manage my Ltd so that it's as tax efficient as it reasonably can be, but it's a trading entity and not a tax avoidance mechanism to me.
For a period of several years my life was complicated enough without managing a MyCo and so I used an Umbrella which was less tax efficient, but convenient and suited my requirements at the time.
Esoteric tax schemes carry more risk than I'm prepared to take and are potentially a lot more complicated in the long run so I'm content to leave them to people who think they're a fabulous idea.
For a period of several years my life was complicated enough without managing a MyCo and so I used an Umbrella which was less tax efficient, but convenient and suited my requirements at the time.
Esoteric tax schemes carry more risk than I'm prepared to take and are potentially a lot more complicated in the long run so I'm content to leave them to people who think they're a fabulous idea.
Comment