Withdrawals

[tractor]

....

Hi,

I'm sure this must have been addressed elsewhere, though can't find through a search. Please feel free to direct me elsewhere is the info is already posted.

I've been offered my first contract role at £300 p/d and it seems as though the calculators indicate I could be getting £5000+, after tax, which seems unrealistic. If do around 10,000 miles a year and this pretty much my only major allowable expense - what are they options for drawing down money from the Ltd company I will create and how less 'tax-efficient' does it become the more I draw?

I am in the process of engaging an accounant, but they seem unwilling/unable to givea simple answer to this question.

Many thanks,

Rob

Here is a clue. The few very varied replies you have had to this thread so far indicates why your accountant is unwilling/unable to give a simple answer. Because there is no such thing. All of your and your spouse (if any) circumstances come into play and the permutations are many.

My biggest concern is that all the first timers come here looking to maximise their 'take home' when really, they should be maximising their commercial/financial understanding as a priority.

This in turn will give you most of the knowledge required for you to make an informed decision.