Hi,
I wonder if you can please help.
I am a director of a limited company and my wages are 38000 which is over the threshold however my solicitor is advising that my company profits need to also be over the threshold. Is this correct?
I thought it was just sole traders and franchises that needed their profit to be 18600 but if you are a director or employee of a limited company then they just look at your wages and dividends.
I have checked and rechecked the appendix FM and it clearly states that for those that are self employed as a sole trader, franchise or partnership your income is your net profit. However i am none of those, I am a director/employee of a company so I dont think the companies profits should be looked at.
Please help, as my solicitor is suggesting I resubmit my company tax return which will cost me extra money and time.
Thanks
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