Let's say for arguments sake that I had a previous contract which had gross revenue of say £50k. I thought I was outside at time but have now lost a Tribunal. So the deemed payment is £47.5k so they're looking for their £17k.
Could I then say that I'm sacrificing £35k info my pension and keeping the £12.5 tax free amount so no tax is due? (Albeit I'd need to find £35k from personal funds to put in the pension).
If so, it would seem I could reclaim the corp tax/dividend tax as well?
I appreciate the scenario is unlikely but if I HAD received that the salary that year, I'd have put it in my pension and if they're backdating decisions seems only for I can too...
Just looking for more info on how it works when folk lose Tribunals...
Could I then say that I'm sacrificing £35k info my pension and keeping the £12.5 tax free amount so no tax is due? (Albeit I'd need to find £35k from personal funds to put in the pension).
If so, it would seem I could reclaim the corp tax/dividend tax as well?
I appreciate the scenario is unlikely but if I HAD received that the salary that year, I'd have put it in my pension and if they're backdating decisions seems only for I can too...
Just looking for more info on how it works when folk lose Tribunals...
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