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  • God yeah, why would anyone want to use Nikon?

    wayne_f14, becoming a limited company from a sole trader isn't always as easy as signing some forms. You are taking something you own and transferring it to a seperate legal entity (which has tax consequences). That aside, do whatever you need to do to carry on getting an income - 0% of nothing isn't as good as 80% of something.

    Assuming that you form your limited company, you will probably want to pay yourself a salary that gives you a basic state pension entitlement (c. £5,000 off the top of my head) then take the rest of your pay in dividends. Talk to your accountant about this before you make any decisions though. If you were going to be caught by IR35 (the deemed employee legislation) then you would probably be caught by the Personal Service Company legislation, so it's not like this Limited Company is going to help the people hiring you that much!

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