Coming up to the 31st October income tax deadline; considering options for reducing the level of income taxable at 41% for a sole trader (circa €15k taxable at 41% rate).
Ignoring the pension thresholds, associated risks of BES investments, etc., just wondering whether a BES investment made in October 2009 can be utilised against 41% income for 2008 tax year (sole trader accounts are made up to 31 March 2008)? Or is this investment utilised instead against income in the 2009 tax year? Same question applies for film schemes.
Also, to clarify whether my understanding is correct that pension contributions made prior to 31 October 2009 can be used to reduce taxable income in the 2008 tax year?
Do any other options exist to reduce the level of 41% income?
Many thanks
Ignoring the pension thresholds, associated risks of BES investments, etc., just wondering whether a BES investment made in October 2009 can be utilised against 41% income for 2008 tax year (sole trader accounts are made up to 31 March 2008)? Or is this investment utilised instead against income in the 2009 tax year? Same question applies for film schemes.
Also, to clarify whether my understanding is correct that pension contributions made prior to 31 October 2009 can be used to reduce taxable income in the 2008 tax year?
Do any other options exist to reduce the level of 41% income?
Many thanks