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More Software is a good book keeping system, with online video training and we provide details of how a Professional Contractor and Freelancer can manage their business using this system.
The .xls Dividend Planner from the SJD website implies that £36,301.50 can be withdrawn as dividends from a limited company before paying tax at the higher rate. It also makes a salary adjustment.
Is this correct? I was under the impression that a director could withdraw £38,400 as dividends as well as c£6k salary before hitting the upper bracket - does anyone know any better?
The .xls Dividend Planner from the SJD website implies that £36,301.50 can be withdrawn as dividends from a limited company before paying tax at the higher rate. It also makes a salary adjustment.
Is this correct? I was under the impression that a director could withdraw £38,400 as dividends as well as c£6k salary before hitting the upper bracket - does anyone know any better?
Its £34,800 (plus £2,320) = £36,000
But it also depends on if you received £6,035 salary and paid the NIC to HMRC or received £5,435 salary and did not pay any NIC to HMRC - then the above £36,000 needs to be adjusted.
Ahh, actually i was getting the 34.8 and the 38.4 mixed up - what a chump...
Also downloaded the 2008 spreadsheet they provide, the problem is that they've hardcoded the VAT rate at 15% for the whole of 2008 rather than adjusting it from month 9. Shame that really
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