Going limited...

[Wanderer]

What is an achievable take home these days as a limited

Check out this calculator.

I’m assuming 2 x salary (myself and wife) and dividends is still the way to go or do HMRC frown upon the second salary these days?

If you are outside IR35 and your wife doesn't have any other income then yes. Otherwise, it's probably best to discuss it with an accountant and get personalised advice.

Presuming no other income for you or spouse, take £10k salary (you will pay a small amount of NI but less than the Corp tax that would be due) and then take dividends up to the higher rate tax limit for the personal tax year. If there is anything left then leave it in the company for a rainy day. If that day never comes, you can eventually close the company and take a capital distribution via MVL.

Insurance ... is it worth the paper it’s written on??

Good question, I don't know the answer to that but I'd be interested to hear if anyone can comment on it. I think it's best to speak to them and see what they say.

Best practices for staying outside of outside of IR35. I’m assuming no major changes in recent years or has case law proved otherwise??

There is so much FUD about this topic that it's unreal, there is a lot of lobbying for IR35 to be clarified but it's never happened... I suspect that lots of contractors just take out the insurance then get on with running their business and hope for the best.

[riffpie]

I spent 15 years learning those answers. Why, exactly, do you think I need to spell them all out because you can't be bothered?

He doesn't think you need to. He's asking if you'd like to.

[Fireship]

Happy now?

Indeed, thank you for taking the time to reply.

I've already read the PCG's Guide to Freelancing but thanks for the tip anyway!

[Fireship]

Good question, I don't know the answer to that but I'd be interested to hear if anyone can comment on it. I think it's best to speak to them and see what they say.

Thanks for the feedback, much appreciated.

I too would be interested to hear from anyone with experience of insurance paying out to cover a tax liability. However as malvolio has pointed out PCG membership, insurance to cover legal action, and a proper B2B relationship should result in defeating any challenge brought by HMRC. Hence insurance to cover liability is probably overkill and unlikely to have been claimed against in great numbers – will still be great to hear of any positive/negative experiences though!

[Platypus]

I spent 15 years learning those answers. Why, exactly, do you think I need to spell them all out because you can't be bothered?

Isn't this an advice forum?

I'm embarrassed for CUK that you posted this.

If you don't want to divulge the secret of your success then simply don't respond.

[malvolio]

Isn't this an advice forum?

I'm embarrassed for CUK that you posted this.

If you don't want to divulge the secret of your success then simply don't respond.

Yeah, genuine apologies to the forum and to the OP. Put it down to an already grumpy old git having had a difficult week. To be fair I have since answered the questions as posed, like I should have done in the first place.