Hi all , sorry if this is in the wrong place just wanted some information. I've just started my first contract. I took it as I wanted to make some good money to invest, so I might go full time again after it ends in September/ 12 months. However I've been reading how hard it can be just closing a limited company down and taking the money.
I will have around 60k in the business account after corporation tax, i know I can pull out the 11,800 tax free but what will I be taxed on the remainder...I'm hearing so many things like 52%!!! To entraprauner relief ...I'm really confused?? I'm the only director and my partner can't take any extra if that helps
I know September is a way off but it's disheartening if I can't take the money at the end without being severely taxed.
Any help greatly appreciated.
S
I will have around 60k in the business account after corporation tax, i know I can pull out the 11,800 tax free but what will I be taxed on the remainder...I'm hearing so many things like 52%!!! To entraprauner relief ...I'm really confused?? I'm the only director and my partner can't take any extra if that helps
I know September is a way off but it's disheartening if I can't take the money at the end without being severely taxed.
Any help greatly appreciated.
S
Comment