A partnership currently running a post office are buying another and their bank have suggested operating via a ltd co. Can this work as the bulk of the income is sub-post master's salary?
Jim
Replies (3)
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Different contract
I think there is a different contract for corporate entities running a Sub PO - the client should (probably after much hassle) find out from the PO what the differences are. I have clients who run Sub PO, and they did not like the look of the corporate contract (and the regular contract is bad enough).
I agree..
.. with Andy.
The Revenue guidance is that the post office salary paid to the sub postmaster shoud be paid into the bank account of the limited company. There should be a trade (i.e.a shop) that also trades throught the company.
There is no need for a corporate contract with the Post Office.
Not a problem in practice
Even if individual postmaster has contract, if included in company, Revenue happy enough. Show on SA for individual with full add back with note that income assessed on company. NT code will be applied by PO