Erm..... Garry as im a director of my own company i pay myself a directors fee each week of £104, out of this i pay my paye tax @23% and my national insurance etc.
The rest of the money is liable to corporate tax of about 19-20% i also claim expenses out of this money which is tax deductable, i take this money each week as a dividend payout to the shareholders, the shareholders are me and my two girls who are 3 and 5, but the cash goes into my account, it just means i personally cant hit the 35k point where i would have to pay 40% tax, it allows me to earn about £200k a year before that would happen by the time expenses are taken into account.
And yeah gordon brown doesnt like it but its perfectly legal
14-03-2008
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