On Sat, 14 Aug 2004 11:52:33 +0100, Daniel Kelly (AKA Jack) wrote:
> Dear Tom,
>
> Thank you so much for this very detailed reply - you've given me far
more
> information than either my careers service or Companies House! Thanks.
>
> Yes, you're right - my PhD income is a stipend from the Medical Research
> Council and is classed as an educational grant.
>
> So, just to check that I've understood you correctly... You recommend
that I
> go ahead and sign up as a company director because it wont make any
> difference to my current finances (I'm not expecting to earn a penny
from
> the company, at least not for a few years).
>
> Thanks loads,
> Jack
You probably have understood me correctly, but for the record - I made
no such recommendation.
I think what I was saying is - if your personal taxable income is below
your personal tax threshhold then you shouldn't pay tax on that income. It
won't affect the tax status of your educational grant.
errm that's it.
IANAL
cheers
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