Does anyone know if there are any downsides to setting your other half up on your company in order to reduce tax liability?
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Don't make them a signatory on your company bank account, I'm so glad I didn't when I later got divorcedSocialism is inseparably interwoven with totalitarianism and the abject worship of the state.
No Socialist Government conducting the entire life and industry of the country could afford to allow free, sharp, or violently-worded expressions of public discontent. -
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Are there people who don't do this?Comment
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Yes meOriginally posted by BrilloPad View PostSocialism is inseparably interwoven with totalitarianism and the abject worship of the state.
No Socialist Government conducting the entire life and industry of the country could afford to allow free, sharp, or violently-worded expressions of public discontent.Comment
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Making a change to your business to artificially lower your tax burden with no business requirement is aggressive tax avoidance... but many do though so fill your boots. Just make sure you do it right.
And do a bit of bloody basic research before asking questions
'CUK forum personality of 2011 - Winner - Yes really!!!!
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Depends what the OP means, really - my wife is a modest shareholder because, frankly, she took much as much risk as me in this endeavour and I wanted to make sure she got some direct rewards out of it.Originally posted by BrilloPad View PostComment
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WHSOriginally posted by northernladuk View Post
Another one for the NLUK comment generatorAnd do a bit of bloody basic research before asking questions
Work in the public sector? Read the IR35 FAQ hereComment
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NoOriginally posted by northernladuk View PostMaking a change to your business to artificially lower your tax burden with no business requirement is aggressive tax avoidance... but many do though so fill your boots. Just make sure you do it right.
And do a bit of bloody basic research before asking questionsComment
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It's not artifically lowering the tax burden as confirmed by https://www.ipse.co.uk/ipse-tax-vict...in-house-lords . Sharing the profits of a company with your spouse is perfectly acceptable as they share the risk of the enterprise.Originally posted by northernladuk View PostMaking a change to your business to artificially lower your tax burden with no business requirement is aggressive tax avoidance... but many do though so fill your boots. Just make sure you do it right.
And do a bit of bloody basic research before asking questions
Granted there is minimal real risk and many spouses will earn enough to make not worthwhile but its not artificial and definitely not aggressive (in fact it's little different from deciding in whose names the savings are in)..
There isn't many things I would argue with you on but this is one where we will just have to agree to disagree...merely at clientco for the entertainmentComment
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