Originally posted by mudskipper
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Reply to: Tax relief
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Previously on "Tax relief"
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Originally posted by MarillionFan View PostMy other option was to also register as self employed and re-open a loss making shop paying my wife a high salary.
Look into the other suggestions that have been put forward already.
Craig
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Originally posted by Craig at Nixon Williams View PostIn addition to the suggestions above, you could consider investments in companies that qualify for the Enterprise Investment Scheme or invest in a Venture Capital Trust. In both these cases, 30% of what you invest would be deducted from your tax liability (though you cannot claim relief for more tax than has been paid). These investments can therefore save an enormous amount of tax; however they also tend to be very risky. If you were considering this type of thing then you definitely need to speak to a Financial Advisor…
Hope this helps!
Craig
My other option was to also register as self employed and re-open a loss making shop paying my wife a high salary. But going to be peanuts.
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In addition to the suggestions above, you could consider investments in companies that qualify for the Enterprise Investment Scheme or invest in a Venture Capital Trust. In both these cases, 30% of what you invest would be deducted from your tax liability (though you cannot claim relief for more tax than has been paid). These investments can therefore save an enormous amount of tax; however they also tend to be very risky. If you were considering this type of thing then you definitely need to speak to a Financial Advisor…
Hope this helps!
Craig
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Not a lot really. What salary sacrifice options does your employer offer and are any of interest to you?
- Childcare vouchers?
- Cycle to work scheme?
- Some kind of share scheme?
- Gift aid donations?
- Plus pension like you suggest.
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Originally posted by MarillionFan View PostAdvice needed.
Presently permie and will shoot through the additional tax rate band this year. Ideally would like to reduce tax liability as much as possible. As I cannot do dividends any ideas
So far, pumping cash into my pension fund is the best I have to reduce. What else is there?
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Tax relief
Advice needed.
Presently permie and will shoot through the additional tax rate band this year. Ideally would like to reduce tax liability as much as possible. As I cannot do dividends any ideas
So far, pumping cash into my pension fund is the best I have to reduce. What else is there?Tags: None
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