Company expenses ideas for excess funds

[GitMaster69]

Around about now?

Same genre as NowPermOutsideUK, "how can I avoid paying any tax?" nonsense.

Tax planning is not a nonsense and fully legal

learn the difference
https://bbcincorp.com/resources/diff...d-tax-planning

this isn’t going anywhere aside from being flame target
/thread

[eek]

Tax planning is not a nonsense and fully legal

learn the fing difference https://bbcincorp.com/resources/diff...d-tax-planning

But you aren't asking about tax planning - your original question was - What can I spend money to reduce my profits?

And that has nothing to do with planning and everything to do with not thinking straight.

As numerous people have pointed out on here - the first thing you need to do as a contractor is have some money available in case you don't have any work for a while

Once you've got a year or so of money saved up - that is the point you may wish to try and be clever £18,000 isn't enough.

[GitMaster69]

But you aren't asking about tax planning - your original question was - What can I spend money to reduce my profits?

And that has nothing to do with planning and everything to do with not thinking straight.

As numerous people have pointed out on here - the first thing you need to do as a contractor is have some money available in case you don't have any work for a while

Once you've got a year or so of money saved up - that is the point you may wish to try and be clever £18,000 isn't enough.

Ok I’ll treat that as an apology.

I’ll give you an example, I spoke with financial planner and he gave me this:
once drawn from the company as a salary you can invest in VC and offset part of the employment tax as a “reward”. Can’t remember specific tax reward but I think it’s 30% of the tax paid

https://www.gov.uk/guidance/venture-...-for-investors

that’s an actual advice, not “buy 15k worth of wine” or have a warchest that I already have.

if you’re saying 18k is not enough to be utilised then how much is ? Note I could not put 40k into pension , which would make it 58k

[cojak]

I wouldn’t treat as an apology because it wasn’t.

And since the answer is basically add it to your warchest - thread closed.