The point being a savings plan for my children, rather then come out of my own money , it is via the co ltd so potentially reducing my corp tax and my own tax ?????
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Reallocating Shares - Red Flag for HMRC S660??
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Originally posted by contractor55 View PostThe point being a savings plan for my children, rather then come out of my own money , it is via the co ltd so potentially reducing my corp tax and my own tax ?????Comment
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Corp tax- true . My mistake.
I use it to reduce potential any higer tax bracket and provide some savings to my childrenComment
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Originally posted by contractor55 View PostCorp tax- true . My mistake.
I use it to reduce potential any higer tax bracket and provide some savings to my children
What you're not grasping is that the only way to make it work is to put the money out of your reach forever (which is itself pretty tricky to achieve). However you do that won't make any difference to your personal income or your CT bills, and any taxable income arising will be charged to your children anyway.Blog? What blog...?Comment
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