Dar Francis,
Many thanks for your reply. In answer to your question...
> I was not aware that "student status" gave any advantages
> for tax purposes
As a PhD student I earn 12,500 UKP per year, untaxed. I do not have to
pay
income tax or council tax.
Many thanks,
Jack
"Francis Davey" <fjmd1@[EMAIL PROTECTED]
> wrote in message
news:2o4tupF6tr04U1@[EMAIL PROTECTED]
> Jack Kelly wrote:
> > Hi there,
> >
> > I am a PhD student in London and I plan to set-up a small film
production
> > company with some friends. We intend to register a Ltd Company at
Companies
> > House within the next week or so.
> >
> > How will this affect my student tax status? For example, will being a
> > company director mean that I'll have to give up the tax benefits of
being a
> > student? If so, are there any ways round this problem (e.g. becoming
a
> > secretary rather than a director)?
> >
>
> First point: I was not aware that "student status" gave any advantages
> for tax purposes. I never found any difference in treatment between when
> I have been a student and when I haven't.
>
> Second point: as far as I know, being a company director doesn't make
> any difference at all to one's tax status. Certainly when I was a
> director it made no difference to me. Why should it?
>
> Two things make a difference to tax status as far as I can remember: (1)
> what you earn (2) whether you are self-employed or not. Putting it very
> simply.
>
> If you start paying yourself out of the dividends, or the company is
> really a sham personal services company, that might have some effect,
> but otherwise I don't see why it should. If you are an employee of the
> company, that might make a difference, but there is no reason (again)
> why you should be.
>
> Francis Davey
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