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In the UK, you can put up to £40k /year into a private pension tax free. If you are a higher rate tax payer, you get a cash refund. Whilst it wouldn't give you
by gidorah 5y ago
In the UK, you can put up to £40k /year into a private pension tax free. If you are a higher rate tax payer, you get a cash refund.
Whilst it wouldn't give you a higher current net income, it would be beneficial in the long run. There might be similar schemes in Austria.
If you are PAYE through your employer, there is little you can do really. If you can contract under a legal entity, that nunber might go up, but in the UK, you'd have to earn £100k+ for it to be worthwhile imo.
For context, I am a UK accountant.
- iExploder 5y agoI havent investigated deeper, but afaik in Austria you can invest tax free into stock packages managed and offered by certain banks, up to 10% of gross income, iirc return on this is very low and needs to be held for 4 years before sale. its nowhere near whats possible in the UK... as I said before, accept the social solidarity or move to different country.
- gidorah 5y agoI agree. Also, I believe that stautory leave in Austria is like 40 days, compared to 28 in UK. UK has some tax free investments, but wouldn't boost net income.