liver but yesYeah but you had a great time and your kidneys will be due to pack in after those 10 years anyway!
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liver but yesYeah but you had a great time and your kidneys will be due to pack in after those 10 years anyway!
Oh yes!liver but yes
I try to keep my personal annual earnings below the 40% level - anything above that yeah you getting hit with 32% rate on dividends, I'm a bit older so once I finish work will still be able to pay myself for x years at basic rate with whatever is left in there.Out of interest how does this work out when you need to take it out of the company, wouldn't you just end up getting nailed with the tax at that point?
Yep knew the first bit but now the second makes senseI try to keep my personal annual earnings below the 40% level - anything above that yeah you getting hit with 32% rate on dividends
I'm a bit older so once I finish work will still be able to pay myself for x years at basic rate with whatever is left in there.
That does sound like poor return on retained profits. You’d be better to invest in a pensionI try to keep my personal annual earnings below the 40% level - anything above that yeah you getting hit with 32% rate on dividends, I'm a bit older so once I finish work will still be able to pay myself for x years at basic rate with whatever is left in there.
Grass is not always greener on the the other side. Personally if I was really unhappy in your present job I'd leave because that could cause you more anxiety and health risks.
Goodluck in your choice
Without knowing you, but reading your posts on here over the past few months, I’d say you’ve probably made the right choice.I've made the decision now. If it was to another permanent role, there'd have been no issues. I'd be gone. But not to the uncertainty of agencies and temporary contracts the way I've been with my mental health the last few months. I don't want to be worrying over a different set of circumstances and, as others have implied, I don't know what I'd be letting myself in for until in position. By then, it would be too late.
Hope things get better for youI've made the decision now. If it was to another permanent role, there'd have been no issues. I'd be gone. But not to the uncertainty of agencies and temporary contracts the way I've been with my mental health the last few months. I don't want to be worrying over a different set of circumstances and, as others have implied, I don't know what I'd be letting myself in for until in position. By then, it would be too late.
The company doesn't pay tax on the pension contribution and it reduces your company profit so reduces corporation tax, there are limits to what you can take I believe, although I can't remember the detail. You pay the tax once you start taking the pension. Any money coming out of the company to yourself is either taxed as salary or as dividends. currently the first 2k of dividends is tax free. That is reducing to 1K next year IIRC.Out of interest how does this work out when you need to take it out of the company, wouldn't you just end up getting nailed with the tax at that point?
Been doing contract work for 6 years now. I'd be gutted if I had to go back to a perm job and that's nowt to do with money.
Just avoiding the bullshit is reason enough.
Or take it all out and spend it on hookers and blow.That does sound like poor return on retained profits. You’d be better to invest in a pension
Fair play, you’ve got to do what’s best for you. I’ve done contract work for near enough 15 years now and I love it but it’s not for everyone.I've made the decision now. If it was to another permanent role, there'd have been no issues. I'd be gone. But not to the uncertainty of agencies and temporary contracts the way I've been with my mental health the last few months. I don't want to be worrying over a different set of circumstances and, as others have implied, I don't know what I'd be letting myself in for until in position. By then, it would be too late.