Thank you for your response.
We both already act as Sole Directors under separate Limited Companies, so the CT at 20% is already clear. We're struggling with the efficiency part as you state. If we're starting from a simple personal tax basis for 2014 Tax Year, i read that taking say £50,000 profits through the LTD works out a few % more efficient.
How do we go about calculating our relevant positions to have an informed view?
Is that 50K each or between the two of you?
Sorry £50,000 each - at least!
Unlikely to be more than £100,000 each
So as our desire to take more out of the Company (above £50,000 each) increases, the gap between the LLP and LTD benefits get closer?
Any other reasons for deciding between them? Both have liability caps, and need for accounts.
Really appreciate your responses.
Have a great weekend.