Dear Friend,Hello and welcome. Thank you for providing an opportunity to assist you.Please remain online for a while as I prepare your reply.
I believe going as a ltd company would be more profitable to you.Given the lower tax rate for corporations, if you work as a business (i.e. ltd company) will be able to take all deductions that are generally available to any business. If you pay your self less, you will also have options to build reserves within the company. This will help you plan taxes properly as well.In my opinion, you should go for limited company and operate as a business rather than joining the company. Over and above all, it will help you maintain your autonomy as well.
I am sure this would help.
You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.
Dear Friend,No, I have deliberately kept my reply crisp so as to avoid any confusion.Having said this, costs involved in setting up a limited company are not much. Refer the following link.
Also, as you said, operating as self employed are further tax deductible as well. So, if you look from any angle operating as a self employed OR as a limited company should be preferred as against joining the company as a employee.
Note that if you go as limited company, that will be a separate legal entity than you and you will have limited liability to the extent of your invested capital as against sole proprietorship.
Dear Friend,Hello again.
Tax breaks should not be the sole guiding factor and the basis on which one decides. Having said this, it is the tax bracket which is 20% -- lower than standard tax rates that apply to individuals.
Taking this further, you need to take a holistic view of the limited company as compared to sole proprietorship. Please refer the following link.