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Tax Band

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    Tax Band

    Just wondering what tax band people here are on

    I'm coming to the end of my first year of trading and have been trying to stay below the higher rate after dividends and salary but don't think i'm gonna make it

    Poll to follow.
    36
    Basic Rate - 20%
    33.33%
    12
    Higher Rate - 40%
    36.11%
    13
    AndyW can kiss my tulip
    30.56%
    11

    #2
    where?
    I'm sorry, but I'll make no apologies for this

    Pogle is awarded +5 Xeno Geek Points.
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      #3
      Just wondering what tax band people here are on
      No idea
      Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

      C.S. Lewis

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        #4
        Where's the neither option ?

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          #5
          Hector can kiss my tulip.
          How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

          Follow me on Twitter - LinkedIn Profile - The HAB blog - New Blog: Mad Cameron
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            #6
            Originally posted by Gravy Train View Post
            Just wondering what tax band people here are on

            I'm coming to the end of my first year of trading and have been trying to stay below the higher rate after dividends and salary but don't think i'm gonna make it

            Poll to follow.
            and why are not going to 'make it'

            its simple, just dont take any cash out of the business so it dont take you above the HR tax limit

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              #7
              Not enough options. I signed on a few weeks ago for the first time and don't pay tax any more. In fact my council tax is paid for me now. Hurrah for outsourcing, open-door immigration and fast track wheezers. The dole or tax credits is the future.

              Comment


                #8
                Originally posted by downsouth View Post
                and why are not going to 'make it'

                its simple, just dont take any cash out of the business so it dont take you above the HR tax limit
                That's fine if you're living costs are ok - i've taken out around the 40k mark and am running on empty in my personal account towards the end of my financial year (although there's plenty left in the business account) - gonna take some smart accounting to make sure i can take out the maximum without going over the higher rate limit.

                And for those asking for more options - this poll doesn't apply to you

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                  #9
                  Originally posted by Gravy Train View Post
                  That's fine if you're living costs are ok - i've taken out around the 40k mark and am running on empty in my personal account towards the end of my financial year (although there's plenty left in the business account) - gonna take some smart accounting to make sure i can take out the maximum without going over the higher rate limit.

                  And for those asking for more options - this poll doesn't apply to you
                  Sounds like we're in much the same boat - no way I could've got through last year without hitting 40%. Might stand a chance this year though.

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                    #10
                    Start doing support gigs, you won't have to worry about hitting 40%.
                    Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave Johnson

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