Out-of-hours income
By Jenny Stone, 31 March 2010
I am a full-time GP partner doing sessions for the local out-of-hours organisation. I earn about £25,000 a year from this work and declare this income in my tax returns. A colleague suggests I register as a limited company, put this money through the company accounts and only pay basic rate tax on it rather than higher rate tax. Is this possible? I would keep my practice income separate.
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