Originally posted by eek
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Reply to: Do you pay higher-rate tax?
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Previously on "Do you pay higher-rate tax?"
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Originally posted by d000hg View PostThe other thread got me thinking, my costs are such that I don't need to take so much out of my company that any higher tax is paid... so I aim to take the maximum out without paying any higher tax. And even that allows me to fill both our ISAs each year.
But if you are the sole earner or have kids, big house, etc, the amount you can get out isn't massive.
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Originally posted by d000hg View PostBut if you are the sole earner or have kids, big house, etc, the amount you can get out isn't massive.
I'd be paying higher rate tax if living in the UK right now without a doubt. But! Over here there exists a special tax status recognising families that allows me to keep much more of my earnings at the same rate of tax regardless of the amount I earn. Wicked, no?
No Ltd company required.
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I am currently paying way too high rate of tax but I am loving it
The scandal with "higher rate of tax" isn't the rate itself, but the day light robber of disappearing personal tax allowance after £100k - feckwit Osborne should have fixed that FIRST, and then cut top rate of tax.Last edited by AtW; 11 September 2013, 16:10.
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Do you pay higher-rate tax?
15Yes, I'm permie/umbrella6.67%1Yes, I take enough from my Ltd I have to13.33%2No, I leave it in the company66.67%10No, I don't earn enough!0.00%0That's for me, HMRC and AndyW to know.13.33%2The other thread got me thinking, my costs are such that I don't need to take so much out of my company that any higher tax is paid... so I aim to take the maximum out without paying any higher tax. And even that allows me to fill both our ISAs each year.
But if you are the sole earner or have kids, big house, etc, the amount you can get out isn't massive.
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