If you want to pay less tax If you want to pay less tax
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  1. #1

    Contractor Among Contractors

    DealorNoDeal's Avatar
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    Dec 2009
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    Default If you want to pay less tax

    Don't use a scheme (dodgy umbrella).

    Use Govt approved reliefs.

    Pension contributions
    EIS, SEIS, VCT
    https://mooreks.co.uk/wp-content/upl...IS+and+VCT.pdf

    And before anyone says the latter are risky, they're nowhere near as risky as using a scheme.

  2. #2

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    Join Date
    Jul 2019
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    Default

    Quote Originally Posted by DealorNoDeal View Post
    Don't use a scheme (dodgy umbrella).

    Use Govt approved reliefs.

    Pension contributions
    EIS, SEIS, VCT
    https://mooreks.co.uk/wp-content/upl...IS+and+VCT.pdf

    And before anyone says the latter are risky, they're nowhere near as risky as using a scheme.
    I tend to put bits of money in EIS/SEIS via Crowcube and Seedrs throughout each year with a plan that once I have done that for 3-5 years I may start getting some returns that I will also reinvest to reduce my tax liability. I tend to invest small amounts i.e. a couple of hundred at a time across a diverse range of companies.

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