Im a sole trader and director of a limited company.
My sole trader business is a recording studio.
Im sole director of my own limited company.
I'm the sole shareholder also of this limited company.
seperate from this as a sole trader i invoice many outside clients and companies for use of my studio and personal skills.
likewise my limited company is a record label and pays and invoices many other companies to use their studios and services.
this would be a deduction to my corporate tax as would any invoice paid for the running of the limited company business.
so my question is.......
can i invoice my limited company for use of my studio without worrying about IR35
also in terms of the record label (limited company) im signed to the label as a recording artist
can i pay myself the artist, an advance, the same way a normal record label would?
can i sell the rights to my music to the company for any amount negotiable with myself?
can i sell or transfer intelectual assets for a particular or any amount to my limited company at any time without tax implications?
or what are the tax implications of doing this?
what are the tax implications of using any of these set ups especially if the total profits of the limited company get soaked up by invoices to my studio for services, advance payments for contractual agreements of artist and the payment of intelectual assets.
especially if i only invoice myself enough to stay below the tax threshold therefore paying neither tax on the limited company or myself.