No surprise at all, HMRC up to there usual tricks or fiddling the tax figures so we pay more in there usual back handing says. Question, Simon would it just be simpler and more tax efficient to set up a new company for each time a person of their profits reach £50K and let the accountant handle it all? This way, a business owner would only incurr the 19% tax bracket up to and including each, individual £50K.
The 90% tax rate up to £50,000 is averaged across all of your active limited companies. Therefore , you could end up paying more tax by having more limited companies.
This is nuts!
Yes indeed
No surprise at all, HMRC up to there usual tricks or fiddling the tax figures so we pay more in there usual back handing says.
Question, Simon would it just be simpler and more tax efficient to set up a new company for each time a person of their profits reach £50K and let the accountant handle it all?
This way, a business owner would only incurr the 19% tax bracket up to and including each, individual £50K.
The 90% tax rate up to £50,000 is averaged across all of your active limited companies. Therefore , you could end up paying more tax by having more limited companies.
@@UK-Property-Tax-Accountants you mean 19% right?