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Where Taxpayers and Advisers Meet

limited company benefits when

dingui
Posts:1
Joined:Wed Aug 06, 2008 1:53 pm

Postby dingui » Wed Jul 23, 2008 11:43 am

I am a self employed locum pharmacist and I do not know if it would be better to set me up aa a limited company for taxes purposes obviously to save some money .

taxattack
Posts:309
Joined:Wed Aug 06, 2008 3:44 pm

Postby taxattack » Wed Jul 23, 2008 1:23 pm

There's no short answer - it depends on your circumstances, in particular your income and the nature of your engagements. The rules of your regulatory body (RPSGB?) may also be relevant.
Email me if you'ld like to discuss it.

Regards
chris @ taxattack.co.uk

Faerie9
Posts:16
Joined:Wed Aug 06, 2008 3:51 pm

Postby Faerie9 » Thu Jul 24, 2008 7:41 am

A good article on it here:

http://www.dormerfinance.co.uk/should.html

If your profit is over, say, £20kpa then you can save money with a Ltd Co (as long as you are allowed to, as Chris points out), but the above article deals with some of the other issues.

If you do decide you want to be a Ltd Co, please talk to an accountant as while Companies are cheap to form, they have a lot of responsibility and are harder to get out of!

Best of luck
Jenni
taxhelp(a)farrantfrost.co.uk


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