Freelance Pilot Tax Advice
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Join Date: Jun 2002
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Freelance Pilot Tax Advice
I'm looking to set up a small business (sole trader), to cover some freelance flying outside of main airline flying. Could anybody please offer any advice of the most tax efficient way of operating or could somebody personally recommend a good accountant who would be able to best offer advice for offsetting expenses ensuring the modest additional income does not evaporate in tax bills.
Any links or pointers in the right direction would be very much appreciated. Brown Envelopes/Dutch Purse are not an option.
Any links or pointers in the right direction would be very much appreciated. Brown Envelopes/Dutch Purse are not an option.
Join Date: Feb 2006
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I have no idea about aviation companies for this sort of thing but I used to do a similar thing when I worked in IT. You can either set up your own limited company, or work under someone else's umbrella company. I used a company called parasol (get it? big umbrella!). They were pretty good, I just invoiced them and gave them details of all the expenses I had incurred. They then invoiced the client and all expenses were offset against the income tax.
Parasol - Umbrella Companies | PAYE umbrella company | best advice
Parasol - Umbrella Companies | PAYE umbrella company | best advice