Originally posted by Guilefox77
View Post
The question to ask is how close are you financially? Do you have a joint bank account? Do you own a property together? Would you go into partnership running a business together? Do you consider things to be "yours" and "hers" or do they belong to both of you?
If you do then all means go ahead and trade through the same company. You can just split the total profit of the company and take half each to avoid higher rate tax. You will also save a grand a year on accountant's fees and a fair amount of admin.
If you aren't quite that financially together then you should setup separate companies. Try and get their year ends aligned (you can change the year end) so you both do all the admin stuff at the same time.
Leave a comment: