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Reducing 'Taxable Income' when working through umbrella

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    Reducing 'Taxable Income' when working through umbrella

    Any suggestions on how to reduce the 'Taxable Income' when working through an umbrella, with the aim of keeping it under £100k pa?

    The only ways I can think of are ;
    1- Pension contributions
    2- Charitable donations
    3- Reduce number of days worked in the year

    Any others such as BIK allowed through umbrella where you may pay tax on, but does reduce your HMRC Taxable income?

    #2
    4. Take time off and spend it doing something of non-financial value, such as time with your family.
    …Maybe we ain’t that young anymore

    Comment


      #3
      Originally posted by WTFH View Post
      4. Take time off and spend it doing something of non-financial value, such as time with your family.
      ..... suggests I should do item 3. above twice

      Comment


        #4
        Originally posted by Nava39 View Post

        ..... suggests I should do item 3. above twice
        It's not about just reducing the number of days billed, but actually valuing time more.
        …Maybe we ain’t that young anymore

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          #5
          I had a friend inside IR35 who worked just 163 days to minimise tax.

          Compare that to the 252 days I worked in the same year to see why IR35 is bad for the economy.

          Comment


            #6
            2- Charitable donations
            So give your money away so you won't be taxed on it. Great idea that is.
            'CUK forum personality of 2011 - Winner - Yes really!!!!

            Comment


              #7
              Originally posted by Guy Incognito View Post
              I had a friend inside IR35 who worked just 163 days to minimise tax.

              Compare that to the 252 days I worked in the same year to see why IR35 is bad for the economy.
              Absolutely.

              The country desperately needs people to work long and hard and take risks to grow the economy and pay fair taxes.

              And here we have a thread requesting ideas about how best to do the exact opposite.

              Little wonder the UK feels and looks like a third world country. We are being taxed to oblivion. And no politician seems to care.
              Public Service Posting by the BBC - Bloggs Bulls**t Corp.
              Officially CUK certified - Thick as f**k.

              Comment


                #8
                charge less

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                  #9
                  Originally posted by Fred Bloggs View Post

                  Absolutely.

                  The country desperately needs people to work long and hard and take risks to grow the economy and pay fair taxes.

                  And here we have a thread requesting ideas about how best to do the exact opposite.

                  Little wonder the UK feels and looks like a third world country. We are being taxed to oblivion. And no politician seems to care.
                  The mob, cheered on by the Establishment and the media chased Liz Truss and Kwasi Kwarteng out of office. All based on lies and misinformation. We are 10 times worse position now with these clowns appointed on us by the establishment. The very same individuals I know who wanted them replaced are now moaning and crying about their situation.

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                    #10
                    Is this a case of the tax tail to wag the dog?

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