Hello,
Have just gone full time in an engineering business that we have been developing over the last 6 years. There are three of us as directors and we are currently looking into the best way of paying ourselves while being economical with tax.
My case it straight forward, am leaving a job and going into full time employment for myself.
One of the other directors is retiring from the Defence Forces on a pension. He is wondering what best to do as he will be in reciept of monthly payment in addtional to what ever we decide to pay ourselves. Would his best bet be to take a income from the company that would bring him up to the cut off for low rate of tax and take the rest in expenses and or contribution to another pension fund?
Thanks
Have just gone full time in an engineering business that we have been developing over the last 6 years. There are three of us as directors and we are currently looking into the best way of paying ourselves while being economical with tax.
My case it straight forward, am leaving a job and going into full time employment for myself.
One of the other directors is retiring from the Defence Forces on a pension. He is wondering what best to do as he will be in reciept of monthly payment in addtional to what ever we decide to pay ourselves. Would his best bet be to take a income from the company that would bring him up to the cut off for low rate of tax and take the rest in expenses and or contribution to another pension fund?
Thanks