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Where Taxpayers and Advisers Meet

Reduce earnings from Pension cash in.

divot
Posts:7
Joined:Wed Aug 06, 2008 3:27 pm
Reduce earnings from Pension cash in.

Postby divot » Mon Nov 19, 2018 1:43 pm

Hi hope someone can point me in the right direction….
My wife and I are directors of our own limited company which carries out electronic product development.
Together we also are partners in predominantly my wife’s painting and decoration company.
Last year I cashed in a pension (£35K) to invest into my Limited Company to continue development and patent application.
This obviously raised my household income and attracted income tax payment.
Most of the money was invested into the limited company to continue and pay for development and patent applications.
How do I best represent this investment to reduce my household income thereby regain my working tax credits?

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