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| *Ostroff, Fair and Company>>>United Kingdom Taxes |
What are the best ways for me to reduce my tax bill? |
Let's say I make a profit of 拢90'000 this year What are the best options for me to save money on tax bill? setting up a company etc etc ... what can I claim as business expenses, limits etc? cheers If you become a limited company you will only have to pay 19% tax instead of 40%. There are a lot of pros and cons though, you'd be better to speak to an accountant. Instead of wages I pay myself a dividend so you have no national insurance to pay as well. Hire a good tax consultant. stop working otherwise call into your citizens advice bureau and can tell you what you can claim for ie number dependent kids or old folk such as carer allowance its all there just gotta ask them start a charity get a good accountant keep all your receipts for outgoings as they all come off your tax even things like tea and coffee are claimable. Also my partner claimed for her laptop through the business as she uses it for both and the same with the new camera she got. so in short just about anything is claimable but a good accountant is also very helpful Get a racehorse make donations to a charity and get rich. 1) Make less money 2) Give more to charity under Gift Aid 3) Set up a company, and pay yourself what you need to spend. |
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