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What to do with my money!?
Phipsy101
Posts: 12 Forumite
in Cutting tax
Hello everyone,
I have been selected from my work place for an opportunity to work at a branch of my company based in the EU (Hungary) for potentially 2 years.
I am looking for some advice on what to do with my money to reduce the amount of tax I will be paying.
Basics;
I will be potentially working upto 60 hours per week;
Hourly rate of £16 per hour
Time and a half rate to be implemented Fridays Saturdays and Sundays.
I estimate an average of 66 payable hours per week.
Average weekly earnings of 1056.
I will also be receiving a daily food allowance of £30 and an overnight allowance of £20, both of these will be paid directly into my wages and I will also be taxed on these.
Weekly pay before tax £1,406.
My question is, what do I do with the money and how can I reduce the amount of tax I pay on it.
I am currently paying 10% into my pension scheme, no other savings accounts ect.
Any advice is greatly appreciated
Thank you
I have been selected from my work place for an opportunity to work at a branch of my company based in the EU (Hungary) for potentially 2 years.
I am looking for some advice on what to do with my money to reduce the amount of tax I will be paying.
Basics;
I will be potentially working upto 60 hours per week;
Hourly rate of £16 per hour
Time and a half rate to be implemented Fridays Saturdays and Sundays.
I estimate an average of 66 payable hours per week.
Average weekly earnings of 1056.
I will also be receiving a daily food allowance of £30 and an overnight allowance of £20, both of these will be paid directly into my wages and I will also be taxed on these.
Weekly pay before tax £1,406.
My question is, what do I do with the money and how can I reduce the amount of tax I pay on it.
I am currently paying 10% into my pension scheme, no other savings accounts ect.
Any advice is greatly appreciated
Thank you
0
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