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Sole trader gross to ltd gross?
Contracts_Engineer
Posts: 208 Forumite
in Cutting tax
Hi all
I went from employed to employed to self in august 2018 and i should be able to go gross on my tax early next year.
If i then change from self employed to LTD at the start of the new tax year 2019 will i have to earn £30000 gross as a ltd company before i can go gross on my tax?
I went from employed to employed to self in august 2018 and i should be able to go gross on my tax early next year.
If i then change from self employed to LTD at the start of the new tax year 2019 will i have to earn £30000 gross as a ltd company before i can go gross on my tax?
0
Comments
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what do you mean by "going gross"?0
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I think what the poster means is at what level is it financially better, after tax and NI, to be "limited" compared to being a sole trader?
And for most people, £30k is about the crossover point.Hideous Muddles from Right Charlies0 -
I think by OP's name it is CIS tax he is meaning. If you are starting a ltd company you need to apply again to HMRC for gross status for the ltd company. Don't be late with any of your paperwork to HMRC as that will have a negative effect on it being granted. You need to meet the 30k again.0
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