A
anewgo
Guest
Both my husband & I were earning approx 53k a yr. Jointly assessed and paye workers. Totalling 106k
I have been made redunant and intend to work parttime in my own business as a soletrader. I expect now to earn very little if nothing at all in the 1st yr as I will have to pay out a lot of equipment etc
Total earnings will be approx 60k
Can I give my SCROP to my husband .. as a sole trader? so he will be taxed
20% on his 53k
and then me 20% on my remaining 7k
I have used some tax caluclators on the net to figure it out but it seems regardless of how little I earn we still pay 41% tax on about 7.6k is correct?This is very confusing
I have been made redunant and intend to work parttime in my own business as a soletrader. I expect now to earn very little if nothing at all in the 1st yr as I will have to pay out a lot of equipment etc
Total earnings will be approx 60k
Can I give my SCROP to my husband .. as a sole trader? so he will be taxed
20% on his 53k
and then me 20% on my remaining 7k
I have used some tax caluclators on the net to figure it out but it seems regardless of how little I earn we still pay 41% tax on about 7.6k is correct?This is very confusing