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Our house is detached, therefore I can extend 4m back from the property within permitted development.
What happens if it's just outside that? say 4.1 metres? As to extend and match the garage wall line, which is what I want to do, it is fractionally longer than 4m.
Would that need planning permission?
Builder said he's only had one inspector measure and that was due to neighbour of the extension complaining.
Finally had a decent builder around and quote is within budget, so it's plan B for us if we cannot move.
See an accountant. Tomorrow. Or sooner if possible.
Pension contributions from a company are an allowable business expense. They come off the 'profit' before any corporation tax. You can dump up to £40K of profit into her pension plan per year tax free, and carry forward the past 3 years allowance too. So she could extract up to £160K of profit from the company into her pension scheme tax free. There is no cheaper way to extract money from the company, or fund her retirement.
To be fair, I wasn't aware of that, but while ever we aren't making my pension to £40k p.a. I think it would be better to add more to mine. My effective rate is 40%, plus some NI, hers rather less. SWMBO'S Company runs about £45k as PBT and sadly, we need all of it ATM.
I scraped my ACA tax exams, so as soon as we have any spare income, I can assure you I'll be seeking some good advice!
In simple terms. Suppose SWIMBO's company makes £1K gross profit. There are 3 (legal) ways of getting the money out of the company and into her 'pocket'.
1) Salary. Employers NI is 13.8%, Employees NI is 12% and Income tax is 20%. So once all that is paid, from the original £1000 she only gets about £620 in her pocket.
2) Dividends. Corporation tax is 20%, and personal dividend tax is 7.5%. Once that is paid, she gets £740 in her pocket.
3) Pension. No taxes - all £1000 can go straight into the pension.
It's a bit more complicated than that since NI, Income Tax and Dividend Tax have various allowances and limits, but that's the jist of it.
SWMBO has her own company so not much advantage in stacking her pension. Instead we'll use that in our 50's to make sure we don't pay any (or much) tax on income in our later middle age.
See an accountant. Tomorrow. Or sooner if possible.
Pension contributions from a company are an allowable business expense. They come off the 'profit' before any corporation tax. You can dump up to £40K of profit into her pension plan per year tax free, and carry forward the past 3 years allowance too. So she could extract up to £160K of profit from the company into her pension scheme tax free. There is no cheaper way to extract money from the company, or fund her retirement.
Who gives a opps.My 23 year old son is looking for accommodation/flatshare in West London. He works in Chiswick and Knightsbridge. If you have any or know of any please let me know. TIA
I know a 22yr old unattached Swedish blonde, whos Dad owns a brewery, that may be able to help . . . . . .
What's her cooking like?
