mik_da_man
Registered User
- Messages
- 270
Hi,
Basically I am self employed with a Ltd company of which I am a Director.
It is coming up to my company year end and there is cash in the company.
I wish to avoid paying Corp tax on this and then income tax at a later date.
I had thought about sticking the money into a pension but have decided to leave that off for a while yet.
My current idea is to just pay myself a bonus to get the cash out and pay the income tax when my self assessment is due.
I currently pay PAYE/PRSI on a set wage each month so I presume all I do is balance this off in the form 11?
Am I missing anything??...
Mik
Basically I am self employed with a Ltd company of which I am a Director.
It is coming up to my company year end and there is cash in the company.
I wish to avoid paying Corp tax on this and then income tax at a later date.
I had thought about sticking the money into a pension but have decided to leave that off for a while yet.
My current idea is to just pay myself a bonus to get the cash out and pay the income tax when my self assessment is due.
I currently pay PAYE/PRSI on a set wage each month so I presume all I do is balance this off in the form 11?
Am I missing anything??...
Mik