Hi,
I've just found out that as a director of my IT contracting company, I am not entitled to the PAYE tax credit and as a result have received a bill from revenue for 650 euros. This is not something I was aware of up until now.
I'm just wondering why anyone would be a director if not getting this credit? Are there advantages that outweigh this disadvantage (from a 1 person IT contractor point of view)?
Thanks,
I've just found out that as a director of my IT contracting company, I am not entitled to the PAYE tax credit and as a result have received a bill from revenue for 650 euros. This is not something I was aware of up until now.
I'm just wondering why anyone would be a director if not getting this credit? Are there advantages that outweigh this disadvantage (from a 1 person IT contractor point of view)?
Thanks,