Consultancy
BEAGS WURH et al. Last week I spent some time with an accountant discussing the best way of setting oneself up in business - as a defence conultant. His best advice was as a Limited Company; 100 "shares", divided up amongst the great and good i.e family - so in my case 25 each for me, 2 sons and mem sahib. Don't draw a salary but leave money (clearly after expenses) in the company but pay a dividend at regular intervals (i.e 12 months) (I have since come across someone who pays his "shareholders" a monthly dividend with no adverse repercussions from HM C and R). Apparently the tax burden on such dividens is 20% - clearly you need to take into account tax thresholds incurred by pensions etc and distribute the filthy lucre accordingly. This is the giste of it and obviously take professional advice wrt your own circumstances but it could be the way forward for those interested. CB