Tax planning

29th March 2010

1. Limited Company owners with high earnings should consider taking a dividend in the 2009/10 tax year instead of the 2010/11 tax year to avoid tax rates above 40%. In 2010/11, consider pension contributions to bring you below the high rate tax thresholds.

2. When replacing your car, seriously consider a lower CO2 emission vehicle. If you are running a Limited Company, we normally advise you to keep the car outside the Company but to charge the Company for business miles. Vans however should normally be put through the Company.

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