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Old 11th October 2011, 02:41 PM   #15 (permalink)
Peter Graham
Senior Member
 
Join Date: Apr 2007
Location: Cumbria
Posts: 1,596
Re: A year of self publishing (Sept '11 - Aug '12)

Thanks Scarfy,

Quote:
Originally Posted by Gary Compton View Post
If you set the revenues up to be paid into a Limited company, then as well as being able to claim part of all your household bills, as effectively you have your office at home. Corporation tax is only 22-23%
Fair point, but you'd still have to pay income tax and NI (both employers' and employees!) on anything the Company then pays out to you. You might be able to save NI by structuring it as share dividend, but bear in mind that having a limited company involves certain administrative requirements.

But Gary is right - if you are making a few quid, it's well worth speaking to an accountant to make sure you are making use of your legitimate tax allowances.

Regards,

Peter
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