Hello,
Need some advice. I had a lead for a potential contract and I sent it to a friend as he was searching for a new challenge. I didnt want to persue the opportunity as am satisfied with current contract arrangement. Anyways, cutting to the chase - friend has secured the contract for an initial 9 months (with likely renewals)
and is overjoyed.
I have offered to help him get started in the world of contracting by using my limited company to invoice. Initially, the easiest way I have said the arrangement would work is by paying him his full salary by PAYE through the company. I don't want to make him a director / shareholder as am unaware of the hassle that would cause. Questions - is it worthwhile to let him keep business incurred receipts - if yes, what benefit is this to him? Can I offset this in my current accounts - reducing my corp tax bill.
Advice appreciated for anyone who is already doing this and helping someone out. Accountant has said it'll cost me very little to get him set up with wage slips, P60 etc
Thanks
Need some advice. I had a lead for a potential contract and I sent it to a friend as he was searching for a new challenge. I didnt want to persue the opportunity as am satisfied with current contract arrangement. Anyways, cutting to the chase - friend has secured the contract for an initial 9 months (with likely renewals)
![Smile](https://forums.contractoruk.com/core/images/smilies/smile.png)
I have offered to help him get started in the world of contracting by using my limited company to invoice. Initially, the easiest way I have said the arrangement would work is by paying him his full salary by PAYE through the company. I don't want to make him a director / shareholder as am unaware of the hassle that would cause. Questions - is it worthwhile to let him keep business incurred receipts - if yes, what benefit is this to him? Can I offset this in my current accounts - reducing my corp tax bill.
Advice appreciated for anyone who is already doing this and helping someone out. Accountant has said it'll cost me very little to get him set up with wage slips, P60 etc
Thanks
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