Hello,
Looking for some advice, or pointers to where I can get such advice
I'm IT contractor, with limited company and after expenses and paying myself, I have about 50K left in my company after this year. As I see it I have three real options?
1) I could pay myself this money, but don't' really want to pa 52% tax on it
2) leave it in the company, and be subjected to corporation tax. i could pay myself in years to come? Or leave it till retirement age, if I do that can I take it out tax free?
3) Pay it into a pension. I don't currently have a pension, I know i probably should but don't like it locked away for years.
Any advice?
Looking for some advice, or pointers to where I can get such advice
I'm IT contractor, with limited company and after expenses and paying myself, I have about 50K left in my company after this year. As I see it I have three real options?
1) I could pay myself this money, but don't' really want to pa 52% tax on it
2) leave it in the company, and be subjected to corporation tax. i could pay myself in years to come? Or leave it till retirement age, if I do that can I take it out tax free?
3) Pay it into a pension. I don't currently have a pension, I know i probably should but don't like it locked away for years.
Any advice?