You don't seem to be following what is being said.
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19 years ago
LTD, working separately full-time - save tax??
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19 years ago
Too be honest - I got a bit lost - as seems to be alot of people conflicting themselves.
As the moment - the decision is - LTD or stay as sole trader?
Either way - I am looking - if possible - to save on the amount of tax I pay on my full time job.
I understand - if I am right - that this is not possible unles I make a loss and then I can - under circumstances offset this aginst the tax in my full time employment - or carry the loss over in the business and offset against future profits.
Am I correct so far?
Scott
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19 years ago
No.
You don't seem to understand the basic principle. You are taxed on your total income less certain losses. You are not taxed on individual sources of income.
Why look to save on the amount of tax you pay on a certain portion of your income but not be bothered about your total tax? It doesn't make sense to have a blinkered approach.