Im currently a higher rate tax payer via PAYE. During the next 4-8 weeks, I expect to earn between £8,000 to £20,000 from contracting work. To optimize tax efficiency, I’ve established a limited company, with my partner as the majority shareholder (who currently is unemployed for HMRC purposes). I hope this allows us to leverage her personal allowance when receiving salary or dividends in her name as a director from the LTD company.
The contracting work is likely a one-time opportunity, and the company will remain dormant thereafter unless similar project arises in the future.
My wife has been actively involved in various business activities, including attending courses, marketing, designing logos, handling administrative tasks, and managing communications and winning the contract. She will also manage invoicing to earn any ‘salary’
I need advice how best to be tax efficient and then with filing the relevant documents.
I’ve shopped around for some quotes and they seem excessive as they base it on annual trading. This will likely be 2 months locum work tops and then zero trading for the remainder of the year.
Is anybody able to provide a fixed fee to prepare all relevant Companies House Documents (even if they are filed later) and ensure/advise how to be tax efficient as possible utilising expenses/salary/dividends
