09 February 2005
We have a client company with a sole director/shareholder. The Inland Revenue has agreed that the company is not within the IR35 rules. The company supplies quality assurance services. Currently, it has £200,000 in the bank and has no other significant assets or liabilities. The director intends trading for the foreseeable future. In addition to running his own company, the director is also a full-time employee of another, unconnected, company and any dividend from his business will therefore be taxed at 40%.
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