Staying at 19% for under £50k profit,even 25% is better than 40%Is the rate of tax not rising to 26% for company’s?
Not in my case she's got 50% of the shares.is a Ltd business safer in the event of divorce
I think it’s about 40k taxable profit per partner before you need to get worried about 40% tax brackets. So 4 partners 160k taxable profit. LTD isn’t without its complications/added costs thoughContinuing to review this idea. How much profit do you need to make before ltd is justified? With 4 partners and mostly owner occupied it seems a complicated system with marginal savings but presumably worth it if profits are high enough. PM a figure if helps because I know some don’t understand profit and dairy farming in same sentence!
In your situation it will be north of 200k. But how long will it remain 4 partners. If 2are older then giving them each 50k may not be appropriate and it may pay to set up now for the future.Continuing to review this idea. How much profit do you need to make before ltd is justified? With 4 partners and mostly owner occupied it seems a complicated system with marginal savings but presumably worth it if profits are high enough. PM a figure if helps because I know some don’t understand profit and dairy farming in same sentence!
Possibly right. But wouldn’t all people in the ltd company need to have a share in the farm asset for that to work.I think you are fine if you are a shareholder, I hope