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One-person company compliance challenges: The year ahead

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Lucy Webb analyses some of the key issues facing one-person companies in 2020/21.

30th Jun 2020
Tax Writer
In association with
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It’s fair to say that 2020 is not a golden age for one-person companies.

Long gone are the days of a starting rate of corporation tax of 10% or 0%. More recently, reductions in the dividend allowance from £5,000 to £2,000 have further impacted the tax efficiency of operating via a limited company.

In fact, some might wonder whether the balance of sole trader versus limited company structures has changed so much that it’s no longer worth incorporating. Unfortunately, the answer isn’t clear cut.

Below are some of the key issues facing one-person companies in the year ahead.

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