Use this calculator to work out if you would be better off by running your business through a Limited Company.
It is assumed all partners share equally in the profits, are liable to pay NI and would not be contracted out, have the same tax position and there is no other taxable income or tax deductible allowances apart from the basic personal allowance.
This calculator can only give a guide to potential savings but cannot cater for all situations. You must consult an accountant for specific advice in your own circumstances before taking any action.
There are also may other factors to take into account before deciding to incorporate, although tax savings are often an important consideration.
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