99k -get a limited company
550/day is about 124k /year.
If you can live on about 3k cash a month, and save the rest in your company, you should be able to keep about 80%, so say 99k to you. This assumes 5k salary, 5k pension and 5k annual expenses and 29k in annual dividend payments.
The rest you leave in the ltd co and pay out in a few years time when you close the company down, taking the cash as a capital gain (and getting 75% taper relief).
Its been covered to death in accouting. Or read the PCG guides.
550/day is about 124k /year.
If you can live on about 3k cash a month, and save the rest in your company, you should be able to keep about 80%, so say 99k to you. This assumes 5k salary, 5k pension and 5k annual expenses and 29k in annual dividend payments.
The rest you leave in the ltd co and pay out in a few years time when you close the company down, taking the cash as a capital gain (and getting 75% taper relief).
Its been covered to death in accouting. Or read the PCG guides.
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