Starting up a ltd company whilst currently employed.

[Harveyj97]

Hello. I'm a newbie to the forum.

In regards to business, banking and taxes i'm a little uneducated so please do forgive me if i'm incorrect in anyway.

Anyhow, i'm currently employed and so in regards to taxes my employer handles all of that, i pay 20% tax alongside my NIC percent as well. However i'm currently in the process of starting up my own business, specifically buying and selling through Amazon. Now my query is this, if i set up a ltd company, will my tax code with my current employer change? Or will tax be kept separate between my employment and potential business. I'm not expecting to make a huge profit through my business, and was wondering what tax i would possibly pay on that, is it 20% cooperation tax or is there a way to reduce this.

Thank you in regards to anybody that could shed some light or advice on my problems, it is greatly appreciated.

[darthblingbling]

If you begin to take a salary from your company via a PAYE scheme you set up, you'll likely be told by HMRC to use a BR or other tax code, so your other employer likely won't need to make any changes.

Depends purely on what income you will eventually pay yourself from your company.

[DavidTreitel]

Why do you need a limited company?