Dividends

[Bobo]

Hey guys

I've just moved to a perm role and need to draw the outstanding funds; what is your view on entrepreneurs relief vs a drawn out version of drawing dividends?

Cheers

[northernladuk]

Not a bleeding clue. Give us some basic details at least.

[Alchemy Accountancy]

The short answer is that it depends on your circumstances.

Your accountant should be able to run through with you based on their knowledge of your situation, considering (amongst other things):

How much money is the distribution?
Do you qualify for entrepreneurs relief?
At what rate do you pay tax this year?
At what rate will you pay tax in future years?
Do you need cash immediately?

Bear in mind that legislation could well be different in the future vs just now - so you may not be able to rely on current rules being in existence if you were drawing on the funds over an extended period of time.

[Dom at Fox Bartfield]

Entrepreneurs Relief

Would agree with the guys above, more details required however entrepreneurs relief is a useful tool all depending on your circumstances.

[northernladuk]

Would agree with the guys above, more details required however entrepreneurs relief is a useful tool all depending on your circumstances.

Kind of offsets the useless tools we have on here I guess