Wanderer I believe the accepted wisest practice is to withdraw up to the tax threshold every year that the company has the funds (earned that year or retained profits) let's call it £45k.
If you draw less say £35k then the 10k difference is permanently lost as a tax efficient drawdown.
Using the company as a saving and investment vehicle for the extra (minus pension contributions if you like them) makes sense as retained profits can be drawn tax efficiently in later years. The effects of inflation should be mitigated to an extent by sensible investment.
If you draw less say £35k then the 10k difference is permanently lost as a tax efficient drawdown.
Using the company as a saving and investment vehicle for the extra (minus pension contributions if you like them) makes sense as retained profits can be drawn tax efficiently in later years. The effects of inflation should be mitigated to an extent by sensible investment.
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