Email a collegue.| Headline: | Take £5,000 tax free |
| Description: | Suppose you need to get your hands on some cash in a hurry.
A bonus payment of £8,475 gross would give £5,000 net but the company would have to pay £1,085 in employers contributions. A dividend would of £5,000 would mean that the company would have to pay £1,250. There is a legal, Taxman approved exemption that allows you to take a loan of up to £5,000 tax-free. However, watch out for loans over £5,000 for *to be used for the purchase of your main home *to buy an interest in a business *for more than three years and used to buy machinery for work |
| Date: | 01.02.2005 |
| Email a colleague | |
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