I thought I'd ask this question to see what the general approach was to making the most of cash left in your own businesses (of you're operating as a LTD company).
I pay myself a salary and then take dividends from time to time. However I only take the amount of dividends to remain under the higher dividend tax threshold. This obviously means there is cash still left in the business, however if I took this I would be liable for a higher rate of tax.
What I wanted to know is how I can make the most of this money without taking it as a dividend? I can put so much into a pension, but what approaches do people have to make their money work for them?
Any thoughts and opinions would be welcomed.
Thanks
I pay myself a salary and then take dividends from time to time. However I only take the amount of dividends to remain under the higher dividend tax threshold. This obviously means there is cash still left in the business, however if I took this I would be liable for a higher rate of tax.
What I wanted to know is how I can make the most of this money without taking it as a dividend? I can put so much into a pension, but what approaches do people have to make their money work for them?
Any thoughts and opinions would be welcomed.
Thanks
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