Better out than in ???

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NickNick replied

1 May 2009, 14:10
Originally posted by Platypus View Post

Take it and pay mortgage seems like an excellent option to me

That's what I did. Well, off set anyway.
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Platypus replied

1 May 2009, 07:32
Take it and pay mortgage seems like an excellent option to me
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contractreviews.co.uk replied

1 May 2009, 05:13
Originally posted by Billy Pilgrim View Post

NO - just checked.

Interesting concept but wouldn't fancy putting 50K of hard earned into there.

Anyone know of any good horses running soon ?

Hi Billy Pilgrim,

Nowdays, things are tougher. You need to really study your horse before putting a billion on it.

I suggest you look at number 10, name Brown
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Billy Pilgrim replied

30 April 2009, 15:47
Originally posted by Andy2 View Post

How safe is your cash with them ?
Are they covered by govt compensation scheme FSIS ?

NO - just checked.

Interesting concept but wouldn't fancy putting 50K of hard earned into there.

Anyone know of any good horses running soon ?
Leave a comment:
Andy2 replied

30 April 2009, 15:45
Originally posted by Pickle2 View Post

Have you thought about Zopa for your business cash?

http://uk.zopa.com/ZopaWeb/public/pr...usinesses.html

Depends on how long you are happy tieing up the money for.

How safe is your cash with them ?
Are they covered by govt compensation scheme FSIS ?
Leave a comment:
Pickle2 replied

30 April 2009, 13:58
Have you thought about Zopa for your business cash?

http://uk.zopa.com/ZopaWeb/public/pr...usinesses.html

Depends on how long you are happy tieing up the money for.
Leave a comment:
Olly replied

30 April 2009, 12:44
can't u move itto an account with better rate? where?
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Billy Pilgrim started a topic Better out than in ???

30 April 2009, 10:05
Better out than in ???

Hi all....just after a few opinions.

got a bit of a build up of cash in comapny coffers sitting there earning a wopping 0.2% interest and was wondering whether it is actually better for me to take a chunk as divis and pay tax on it OR to leave it in there and wait till I end up bailing out of contracting ( or bailing out of the UK !!) and getting whats left at 10% on company closure.

The pros of doing this is that I'd be paying about 12% less tax on it.....however I am still tempted for the following reasons...

1) I can get a higher rate of interest if I draw it (e.g. mortgage is fixed at 4.99%) - which covers the extra 12% in a couple of years

2) Lord knows what the tax rules are going to be in a year or two time

3) Abbey banking may go pop and take my company cash with it

Are there any other sensible reasons for taking or leaving cash in the coffers

Cheers!!
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