Given the obvious strain on the public finances we already know that company and personal tax is set to rise next yea
2009/10 could be the year to bring forward plans to draw out retained profit, pay yourself a bonus or engineer a better trading year than you will experience in 2010/11.
Pensions provision is always an efficient way to get money from company into personal hands.
In most cases contractors can transfer virtually all of their income, tax free, into a pension although the budget has clipped the wings of the highest earners and they can now only invest £20k and be certain of higher rate tax relief.
Starting to drip feed higher amounts into a scheme now could help you to exploit depressed valuations on the equity and bond markets In particular US, emerging markets and smaller companies in general look set to prosper as the worse of the bad recessionary news is now out in the public domain. http://www.myallagents.com/Financial-planning-tips-for-IT/details.html
2009/10 could be the year to bring forward plans to draw out retained profit, pay yourself a bonus or engineer a better trading year than you will experience in 2010/11.
Pensions provision is always an efficient way to get money from company into personal hands.
In most cases contractors can transfer virtually all of their income, tax free, into a pension although the budget has clipped the wings of the highest earners and they can now only invest £20k and be certain of higher rate tax relief.
Starting to drip feed higher amounts into a scheme now could help you to exploit depressed valuations on the equity and bond markets In particular US, emerging markets and smaller companies in general look set to prosper as the worse of the bad recessionary news is now out in the public domain. http://www.myallagents.com/Financial-planning-tips-for-IT/details.html
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