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I am about to personally invest £5k in a training course, the training course then requires me to conduct 70 hours of paid coaching. Paid could be £1 to £50 ph. In order to reduce my training costs as much as possible I am considering setting up a ltd company, expensing the training costs and then using the losses to offset the income for the ‘Paid’ coaching, as opposed to declaring it as extra income on my self-assessment and then paying 40% tax.
Are there any other options to avoid the administration of setting up a company?
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