I've now worked around 10 months as a contractor and I'm spending less than half my salary.
The money on my business account has gone up to £50k and just sits there doing nothing. I was thinking about leaving most of this money as emergency funds and tax, but maybe put £20k in stock/ETF and e.g. add a monthly £3k.
I'm already maxing out my Stocks & Shares ISA, but I don't want to invest too much personally as I'd have to pay 40% tax over any extra income and I'm not a big spender anyway.
Can contractors use our Limited companies to invest money into stocks & ETF's?
The money on my business account has gone up to £50k and just sits there doing nothing. I was thinking about leaving most of this money as emergency funds and tax, but maybe put £20k in stock/ETF and e.g. add a monthly £3k.
I'm already maxing out my Stocks & Shares ISA, but I don't want to invest too much personally as I'd have to pay 40% tax over any extra income and I'm not a big spender anyway.
Can contractors use our Limited companies to invest money into stocks & ETF's?
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