Best way to withdraw Dividend when you have perm salary as well..?

[Darren_Test]

I was contracting for many years and recently moved to Perm Job after IR35 changes. Now I am looking to withdraw some dividends in the best cost effective ie Tax efficient way. Any tips thats could help me...?

Now I have70-80K range salary so is it better for me to keep money in business account longer until a lean year..? Is a better way to manage this? thanks

[malvolio]

I was contracting for many years and recently moved to Perm Job after IR35 changes. Now I am looking to withdraw some dividends in the best cost effective ie Tax efficient way. Any tips thats could help me...?

Now I have70-80K range salary so is it better for me to keep money in business account longer until a lean year..? Is a better way to manage this? thanks

You're still paying an accountant, so why not ask them?

[SueEllen]

You're still paying an accountant, so why not ask them?

Don't be daft he prefers to crowd source his answers for important financial information.

[WTFH]

Best thing is to withdraw them all in one lump sum, close your company down, and then we won’t need to answer your questions any more.

Second best way is to have a total of £2,000 dividends in any one tax year (that includes any other share dividends you might receive)

If your total dividends for a tax year is more than £2k, then you’ll be paying tax on it, based on your income tax band.
https://www.gov.uk/tax-on-dividends

[SueEllen]

Best thing is to withdraw them all in one lump sum, close your company down, and then we won’t need to answer your questions any more.

Second best way is to have a total of £2,000 dividends in any one tax year (that includes any other share dividends you might receive)

If your total dividends for a tax year is more than £2k, then you’ll be paying tax on it, based on your income tax band.
https://www.gov.uk/tax-on-dividends

Your first suggestion is the best as the tax free dividend amount goes down next tax year.

[b0redom]

Close down your company and MVL.

[WTFH]

Close down your company and MVL.

Can you imagine the questions we’ll have when Darren does that?

[b0redom]

Well yeah, but I'm just answering the question, not getting involved in the wider, "Is this poster a cretin?".

[northernladuk]

Well yeah, but I'm just answering the question, not getting involved in the wider, "Is this poster a cretin?".

Not really a question that needs to be asked to be fair.

[Lance]

can anyone recommend an MVL practitioner with a free, easy-access, car park?
Asking for a friend.