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Recent content by sop
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Would you withdraw money to place in an ISA when in the higher tax bracket?
Thanks for all the replies guys. Looks like the general consensus is keep it in the company but max out pension contributions. Did you use entrepreneur's relief to withdraw the money? I would have thought investing the money from your company would have disallowed you from ER? Cheers- sop
- Post #14
- Forum: Accounting / Legal
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Would you withdraw money to place in an ISA when in the higher tax bracket?
Thanks Dave. Yeah I agree with your point of view and calculations. Just wondering what other contractors have done when in this situation. Cheers- sop
- Post #5
- Forum: Accounting / Legal
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Would you withdraw money to place in an ISA when in the higher tax bracket?
You know I actually included that last line because I tried to preempt the comment that I knew you would make based on your responses having read through these forums. Looks like preempting isn't enough...you just comment it anyway. Out of interest, are you actually currently in employment? Or...- sop
- Post #4
- Forum: Accounting / Legal
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Would you withdraw money to place in an ISA when in the higher tax bracket?
Hi all, Given the yearly ISA allowances and that over time they have the potential to generate a lot of revenue through interest, would you take the 32.5% hit to withdraw money to place into an ISA (namely a stocks and shares), if you were in the higher bracket? I am aware this is a complex...- sop
- Thread
- Replies: 14
- Forum: Accounting / Legal
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Interest free loan/credit options to cover costs before Entrepreneur's Relief
Thanks for all the replies guys. With regards to the contract, the company I'm contracting for were really keen to get me onboard as I came highly recommended, so after some negotiations, they agreed to take me on as a contractor on a good day rate. There's no guarantee that I will go...- sop
- Post #6
- Forum: Accounting / Legal
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Interest free loan/credit options to cover costs before Entrepreneur's Relief
Hi all, I've recently accepted a 12 month contract which will more than likely end in a permanent position afterwards. This is my first contract. I've researched the tax rules and I'm aware I'm best off staying beneath the £43k limit this year through low salary/dividends and then dissolving...- sop
- Thread
- Replies: 13
- Forum: Accounting / Legal
