I am the sole employee of my limited company and pay myself primarily by dividend for tax reasons. My accountant tells me I can pay myself about 37K a year after which my personal tax liabilites increase and I will have to pay 30% tax (40% tax minus the 10% deemed to have been paid on dividends already).
I'd like to be able to take more of my earnings out of my company (legally)without paying large amounts of tax and am very flexible about this. Does anyone have suggestions? This could be anything from pensions to somehow paying my mortgage or buying other property. I don't know anything about this area so if anyone has any ideas or can point me in a direction to do some research I would be very grateful.
I'd like to be able to take more of my earnings out of my company (legally)without paying large amounts of tax and am very flexible about this. Does anyone have suggestions? This could be anything from pensions to somehow paying my mortgage or buying other property. I don't know anything about this area so if anyone has any ideas or can point me in a direction to do some research I would be very grateful.
Comment