I've been LTD for over 6 months now - the same as probably 4m other Contractors.
In the 6 months I have only paid myself a wage of £750 pm.
I was trying to go for the 2 yr taper relief on the rest of the money in the account (minus tax etc of course).
Is this a good idea, especially with the change to CGT, or should I just pay myself a salary + dividents upto the higher income bracket?
Also what happens with the rest of the money?
How can I get the rest out without incurring higher income tax payments?
In the 6 months I have only paid myself a wage of £750 pm.
I was trying to go for the 2 yr taper relief on the rest of the money in the account (minus tax etc of course).
Is this a good idea, especially with the change to CGT, or should I just pay myself a salary + dividents upto the higher income bracket?
Also what happens with the rest of the money?
How can I get the rest out without incurring higher income tax payments?
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