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Another question about paying tax as a limited company
Right, so the missus set up a limited company as a requirement of getting some short-term work for the council. Otherwise, she was planning to just operate as a sole trader.
Where does she stand tax-wise? Will she end up paying corporation tax on top of her own personal tax? Can she put this job through as her only company income and do other work across the year as a sole trader? Or does any work from now on have to be declared for corporation tax? Or is she effectively an employee of her own company, and so have to take PAYE tax from herself?
Everyone seems to be giving us different information - so we're turning to you.
What can you tell us? Very much appreciated, cheers...