Normally one would set up a limited company and channel all the revenue to it.
However, if one already has a first job (PAYE) but also has a second income from another source, is it advisable / possible to set up a limited company and channel all of the second income into it?
If so, how does having the first job affect things, in terms of tax-free allowance, NI, etc.?
Thanks
However, if one already has a first job (PAYE) but also has a second income from another source, is it advisable / possible to set up a limited company and channel all of the second income into it?
If so, how does having the first job affect things, in terms of tax-free allowance, NI, etc.?
Thanks
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