Hi, This idea is probably full of holes so I would love to hear the opinion of people in the know...
John Doe is a self employed taxi driver having to complete a self assessment tax return each year and pay his tax. Failure to do so could end up in prison time.
Would it be feasible for John to form a limited company. Get paid under the PAYE scheme up to the allowable threshold by the company to drive a taxi. The company would 'trust' John to declare all his earnings and then pay corporation tax on the profits. However, if John was a less than scrupulous employee and didnt hand over all his fares he would be guilty of stealing from the company and not tax evasion. Then it would be down to the company to take whatever disciplinary action it deemed appropriate??
Feel free to shoot this idea down in flames...Thanks!
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