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Thread: Divs next year

  1. #1

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    Default Divs next year

    "The much-disliked plan at Budget 2017 to cut contractors’ tax-free dividend allowance by £3,000 has been officially re-tabled by the government. But unlike last week’s re-tabling of Making Tax Digital, where a delay has been put in place, the cut in the allowance will go ahead from April 2018, as planned".

    It's back on then...
    Clarity is everything

  2. #2

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    .. do the Hokey Cokey and turn around, that's what it's all about....
    'CUK forum personality of 2011' - Winner - Yes really!!!!

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    What does this mean in reality? An extra £225 a year assuming staying in the lower rate?

  4. #4
    eek
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    Quote Originally Posted by le3ky View Post
    What does this mean in reality? An extra £225 a year assuming staying in the lower rate?
    Yep or £450 if you share dividends with the wife...
    merely at clientco for the entertainment

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    Quote Originally Posted by eek View Post
    Yep or £450 if you share dividends with the wife...
    Share them? Surely she's bought her own?
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    eek
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    Quote Originally Posted by northernladuk View Post
    Share them? Surely she's bought her own?
    Well yes but I didn't want to make the assumption that other people have their wife as a shareholder
    merely at clientco for the entertainment

  7. #7

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    Quote Originally Posted by le3ky View Post
    What does this mean in reality? An extra £225 a year assuming staying in the lower rate?
    Surely if you want to take the same as last year it means 3k more into the higher rate. So £975 more tax?

    And if you take 3k less than last year £0 more tax?

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    My assumptions are for a contractor currently taking up to the current max within the lower rate (£45k)

  9. #9

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    Quote Originally Posted by sketchandsunshine View Post
    Surely if you want to take the same as last year it means 3k more into the higher rate. So £975 more tax?

    And if you take 3k less than last year £0 more tax?
    So if last year i took £45k = £3000 tax
    This year I take £45k = £3225

    So if I take the same dividends I pay £225 more in tax..?

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    Quote Originally Posted by eek View Post
    Well yes but I didn't want to make the assumption that other people have their wife as a shareholder
    Or a secretary.

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