PARTNERSHIPS

PARTNERSHIPS

PARTNERSHIPS

PARTNERSHIPS............Special Ideas!

If you are in a PARTNERSHIP with your Wife or Husband or a Good Friend you EACH get £12570 a year TAX-FREE which dramatically reduces your total tax bill and suitable Clients can receive                                                         a Partnership Agreement FREE OF CHARGE! 

A large number of people who are at present EMPLOYED on PAYE are being told that in the future they will have to be "Self-employed" or "become a Ltd Company" to work for the same firm!   This saves the Employer 13.8% of the Employers National Insurance and also means they do not have to contribute to the firm's Pension plans!  Saves them a fortune.   Really you could say this is illegal but you cannot complain or you may lose your job?       

IF you are in a PARTNERSHIP it can save you a lot of tax and it is NOT a person and so the person or firm giving you work to do cannot put you on PAYE and must treat you as a SUPPLIER!!    Also as a Partnership is NOT a Person they "shouldn't" deduct 20% Sub-Contractor Tax - but if they do... get a certicate or a piece of paper from the "Employer" each month to prove the tax you have paid.    Then it can be part of your Tax Refunds! 

When you register to become "Self-employed," the form you fill in (or I fill in for you) asks if you will be working for one person or just one firm - and if so - what is their name and address!!!!!    I guess if you do this HMRC will get in touch with your proposed Employer and tell them they must put you on PAYE as an Employee and then you COULD LOSE YOUR JOB!   However, HMRC says they are introducing new tighter rules.   We will see what happens but I think they are too busy with you know what!   

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updated by David Adamson himself 21st July 2021



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