spiritualfriend
New member
At the start of 2024 I may take another position at a company earning around £35k (with potential bonus) , I currently run a company and take salary of £30k plus 5k bonus. (They don’t mind I run a business as I can do both)
Question I have - I will be driving for both, can I claim 10k mileage @45p for each business so effectively 20k per year?
In addition to this, is there any tax advice I should be paying attention to to minimise my taxes? On “listentothetaxman” I entered a wage of £70k per year which totals £15,428.40 in tax and £4,918.60 NI. Will this be calculated right if it’s two separate wages of around £35k?
Ideally I don’t want to increase pension contributions and would rather increase cash in my bank each month
Any help I’d appreciate. Thank you!
Question I have - I will be driving for both, can I claim 10k mileage @45p for each business so effectively 20k per year?
In addition to this, is there any tax advice I should be paying attention to to minimise my taxes? On “listentothetaxman” I entered a wage of £70k per year which totals £15,428.40 in tax and £4,918.60 NI. Will this be calculated right if it’s two separate wages of around £35k?
Ideally I don’t want to increase pension contributions and would rather increase cash in my bank each month
Any help I’d appreciate. Thank you!