Q. I am a optometrist company director and due to ill health I would like to revert back to locum work, what is the best option for me? Sole trader or form a limited company?
A. As a very general rule of thumb, if anticipated annual profits are expected to be in excess of £40 – 50K then, for tax purposes, a limited company may be more tax efficient. However it is important to also consider the changes to IR35/status (Off-payroll working in the public sector), which have been put in place from April 2017, for self-employed contractors operating in the public sector.
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