Hi, can anyone give an opinion on the following:
An artist wishes to sell some canvases, probably for c. 5,000 each. If he does it self-employed, he'll be taxed at 22% of the profit he makes.
Now, assuming there is a limited company of which he is a director. Can he sell it to the company at a nominal cost, the company trades the artwork, and he takes out dividends at 10% ?
Or will the Inland Revenue attack this as a dodge ?
Thanks Neil.