All this is pre-ir35:
> as a employee of a limited company you would be paid national minimum
> wage (4 quid an hour) .. you pay NIC and tax on that ... (minimal) .. you
> claim expenses off the (ie your own) company for all the driving around
> you do and having to buy things and accomodation whilst away from home etc
> ... and  whats left in the company coffers is profit. This has advance
> corporation tax paid at 20% and ends up in the pockets of the
> shareholders as tax free income upto 30K each a year

Rubbish ;)  its NIC free, not tax free.

>                                                .. and if the share
> holders happen to be say, you and your wife then thats a cute way of
> getting 70K from a contract into your pockets and only paying ~ 15% tax
> overall on it ...  now do you see why they introduced IR35 as a way of
> trying to stop it .. ;)))

No, thats what the self-assessment form is for at the end of the year.

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