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This is where things get tricky. Because there is no clear definition in law of what actually constitutes a personal service company, HMRC often use this lack of clarity to their advantage when investigating the tax affairs of contractors. In the contracting sector, the generally accepted definition of a personal service company is a limited company that typically has a sole director, the contractor, who owns most or all of the shares. The professional services, typically IT or engineering, are delivered by the contractor and, just to reinforce the point, they are also the owner and director of the business. Limited companies can be a tax efficient way for contractors to work, as they tend to split their income between salary and dividends , which means they do not pay, for example, employers or employees Class 1 National Insurance Contributions on a large part of their overall income.
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Personal writers services uk
Personal writers services uk
Personal writers services uk
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Marco A. C. E.

12.04.2021 10:23:17 Marco A. C. E.:

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