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  1. #1

    Still gathering requirements...


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    Default Seeking salary advice

    Hi all,

    I am hoping to gain some advice on my salary/dividends.

    This financial year apr 2011 - apr 2012 I have had 2 PAYE jobs for a total of 5 months. I have just started contracting in October and setup my own limited company.

    I have earnt over the tax free allowance.

    I wanted to ask for advice on whether I should pay myself a minimum wage salary upto April 2012 or just take dividends upto April 2012

    OR

    Is there a better way to reduce my tax bills?

    Thanks

    P.s I am not interested in offshore structures or loan structures thanks.

  2. #2

    My post count is Majestic

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    There have been a couple of questions about this recently, I believe Psychocandy started a thread on this plus a few others. I think the outcome was not to pay any more PAYE and just do dividends.

    Try having a search using the <keywords> site:forums.contractoruk.com/accounting-legal/ to see if you can find them.
    'CUK forum personality of 2011' - Winner - Yes really!!!!

  3. #3

    My post count is Majestic

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    'CUK forum personality of 2011' - Winner - Yes really!!!!

  4. #4

    Some things in Moderation

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    Normal service will resume 8:00 25/2/12.

    Thank you for your questions.


  5. #5

    Still gathering requirements...


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    Super, thanks guys!

  6. #6

    Contractor Among Contractors


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    Default

    Just take the dividends until the new tax year.

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