Captain Caveman
Platinum Member
I'm self employed and I do this by being an employee of my own company. In the UK, we have a tax allowance of £12,570 where your wage incurs £0 tax. After then, your wage is taxed at different levels.
But as being in charge as a director, I decide what goes through the wage system. Despite being a director/employee, I'm still classed as self employed so I'm exempt from minimum wage. Guess what? I don't earn more than £12,570 per year, so no income tax for me.
Then I use above board accounting to take rent and rate's, mileage allowance etc.. out of the business, tax free. The company pays 19% corporation tax on any profit, which I can take as a dividend with no further tax liability.
So my income tax per year is £0.00. What's yours?
Morals? The reason why I do this is, I disagree on what the government spends our tax money on, the less I can contribute, the better.
But as being in charge as a director, I decide what goes through the wage system. Despite being a director/employee, I'm still classed as self employed so I'm exempt from minimum wage. Guess what? I don't earn more than £12,570 per year, so no income tax for me.
Then I use above board accounting to take rent and rate's, mileage allowance etc.. out of the business, tax free. The company pays 19% corporation tax on any profit, which I can take as a dividend with no further tax liability.
So my income tax per year is £0.00. What's yours?
Morals? The reason why I do this is, I disagree on what the government spends our tax money on, the less I can contribute, the better.