You know me - I always try to find a way to pay less taxes, lawfully. <modsnip>
Now, a question for the knowledgeable. If have some personal money can I lend it to my LTD and the LTD to pay me interest at say 3% (2.5% is the HMRC's official average rate).
What will I achieve? Well LTD will save 19%(17%) on the interest amount, I will get some interest and if it is <£1000, no personal tax. First part is not much, £1000 in my pocket is a nice holiday.
Now, a question for the knowledgeable. If have some personal money can I lend it to my LTD and the LTD to pay me interest at say 3% (2.5% is the HMRC's official average rate).
What will I achieve? Well LTD will save 19%(17%) on the interest amount, I will get some interest and if it is <£1000, no personal tax. First part is not much, £1000 in my pocket is a nice holiday.
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