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He could set up a limited company to operate his business. Such a company would be exposed to the UK Corporation Tax (CT) regime at 19%. You may not be aware, but within the EU the UK is considered to be a tax haven with its low rate of CT. Any income drawn by him would have to be through PAYE channels with Income Tax (IT) and National Insurance (NI) deductions made and furthermore the company would be liable for the Employer's element on NI. Such payments would reduce the CT exposure. Dividends up to 2K per tax year would be tax free, but would not count in the CT computation.
The only problem to be faced is ir35, the concept of disguised employment. This is of enormous complexity and frequently misused by HMRC. You can read the full gamut of it here:
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The only other way would be for the company to loan money to the director, but the tax consequences can be horrendous unless the loan is repaid within 9 months from the conclusion of the company's accounting period.
Always bear in mind Benjamin Franklin's adage that in life there are but two certainties, death and taxes.
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In theory the sums received would be subject to Capital Gains Tax (CGT) and if he were genuinely going out of business then Entrepreneur's Relief might apply limiting the tax to a flat rate of 10%. Were the sum substantial I could see HMRC invoking ir35 to collect IT at the higher rates of 40% ans even 45%.
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