Advise Setup for Small Business Whilst in Employment Elsewhere

[cheltenham_villa]

I have always worked as a contractor through an umberella company. I have now decided to take a permanent position with one of my existing clients.

With my new employers permission I also intend on supporting another existing client with some web design and IT consultancy work. My wife will also help with this. Expected earnings to be around £250 per month.

At the same time my wife has started a small home selling business. Her earnings will also hopefully be around the £250 per month mark.

Are we able to link the two business'?

Would I have to take a wage or could I pay my wife all of my earnings/dividends?

Would I be able to find an accountant to advise/help us given we are talking about a business that would be earning 5-6k per year at the most?

Any help is much appreciated.

 

[webgeek]

Since your max projected combined 'side' earnings are under the single director dividend threshold, why not set up a single LTD and let your wife take the income as dividend for both via the LTD?

 

[cheltenham_villa]

Thanks for the reply, just to find an accountant now to help us get set up. Any recommendations?

 

[webgeek]

I'd suggest CSP Accountancy. They're definitely familiar with contractor accounting, startup processes, and tax planning.