Hi,
An article I read today suggested some tax planning ideas, including the following:
"Transfer a minority shareholding to your spouse so they can receive up to £5k of dividend tax free"
I have a couple questions on the above statement:
1) Is there a specific % I should transfer to my spouse? Would 5% do the job?
2) If my spouse is working full time and earns £30K/year, would that £5K dividends be really tax free? Or would my spouse be required to complete a self assessment and pay tax on the extra income?
Thanks,
Chris.
An article I read today suggested some tax planning ideas, including the following:
"Transfer a minority shareholding to your spouse so they can receive up to £5k of dividend tax free"
I have a couple questions on the above statement:
1) Is there a specific % I should transfer to my spouse? Would 5% do the job?
2) If my spouse is working full time and earns £30K/year, would that £5K dividends be really tax free? Or would my spouse be required to complete a self assessment and pay tax on the extra income?
Thanks,
Chris.
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