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Where Taxpayers and Advisers Meet

Tax efficiency on second income

Joined:Sun Jan 09, 2022 11:06 am
Tax efficiency on second income

Postby Smith75 » Sun Jan 09, 2022 11:26 am


I'm a UK company director. I pay myself £12,570 salary and the rest dividends which takes me to around 40k.

I have a hobby which has turned into a significant income - 30k+ last year and need advice on the most tax efficient way to handle this. I'm wanting to keep the company and hobby/2nd income totally separate so I'm open to all ideas to minimise tax on the 2nd income.

Thank in advance.

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