Hi All,
With the impending changes regarding IR35 a number of our clients working within the public sector are considering whether it will still be worthwile to trade through a limited company. After April 2017 if it is deemed they fall under IR35 then PAYE tax and National Insurance will be deducted by the 'Payer' for example the council and the net pay can still be paid to the Limted Company. My understanding is this income will then be paid to the director as salary/dividend and not attract any further tax.
In this scenario however will the company be able to set off any expenses such as accountancy fees and therefore cause a trading loss?
Thanks in advance for your suggestions.
