The Impact of the 2013 Budget: Kristo Kaarmann

CO-FOUNDER OF TRANSFERWISE, 32

Kristo’s firm employs 12 people in the UK and a further 15 around the world. He takes a salary of £35,000, owns property in Tallinn but rents in London.

BDO’s BUDGET TEAM SAYS:

Taking a salary of £35,000, assuming Kristo does not have any other income, he’ll receive an additional £24 per month in 2013-14 and a further £9 per month in 2014-15. In his role at his business, he’ll be helped by the employers’ national insurance contribution allowance, which could save his firm up to £2,000. Kristo could also benefit from the budget’s capital gains switch, if TransferWise is a limited firm, only paying 10 per cent on the first £10m if he sells up.