I started my contract in Nov. Was a permie before. As I have earned more than 40% limit for this year in my prev job, have not been paying myself any salary or dividend. My spouse is not working and is a shareholder and employee of our limited. Through our limited, she is getting £583 / month since November.
To fully utilise her personal allowance for this year, can I pay £4560 (£7475 - (£583 * 5)) as a one off bonus in March? Will it raise any flags in HMRC if one employee gets a bonus?
My accountant suggests taking dividends just for her, but that would mean I have to declare that I do not want to take my share of the dividend and on top of that, her dividend will incur a 10% tax.
Any problems with the bonus? Which of these two options is better. Guidance please.
Thanks in advance.