Tax calculations

[jamesbrown]

Thanks.

Re tax of company and self tax, I intend to take just the max annual personable allowance as income, so I assume that means I will get away with paying any income tax at all.

I have heard that if you leave all your profit in your account and NOT take as dividends but decide to wind down the company after n number of years, you can get away with paying dividend tax altogether.

Is that true?

If so, do you know what is the figure for n?

The sock-o-meter is pegging 11, but on the off-chance that you're real, read the basic guides first ---->

On your specific question about closing a company and benefiting from Entrepreneurs Relief, search for "Members Voluntary Liquidation", but do read the basic guides first. Several times.

For what it's worth, tax is not the most important thing you don't know. Actually, anyone that has tax at the top of their list of priorities when thinking about setting up a Ltd has it all backwards IMHO.

[tractor]

...

Thanks.

Re tax of company and self tax, I intend to take just the max annual personable allowance as income, so I assume that means I will get away with paying any income tax at all.

I have heard that if you leave all your profit in your account and NOT take as dividends but decide to wind down the company after n number of years, you can get away with paying dividend tax altogether.

Is that true?

If so, do you know what is the figure for n?

For the last time there is......


NO SUCH THING AS DIVIDEND TAX!!!

[JB3000]

For the last time there is......


NO SUCH THING AS DIVIDEND TAX!!!

Dividend tax in the basic rate threshold is 0%. In the higher rate threshold, dividend tax is 25%.

[tractor]

...

Dividend tax in the basic rate threshold is 0%. In the higher rate threshold, dividend tax is 25%.

It is INCOME TAX.

A tax on qualifying income of which dividends is one type.

[Waldorf]

This may help, http://www.nixonwilliams.com/images/Dividends.pdf