Hi all,
Hopefully someone can give me some advice. My situation is that I have my own Ltd co and have been working through it for about 9 months. For various reasons I will now be going perm. My wife has been working as a permie for last few years, but will now start contracting from next month. So my question is: can I give her say 40% of the co. and then she starts working through my co? If yes, it raises a few more questions:
a. Will there be any tax implications if I give her 40% as there is about £40k in co's bank account?
b. If she takes dividends from the income she brings in, do I have to take them as well?
c. Would it be better for her to take no divi or salary as my perm salary is more than enough for both of us?
Thanks in advance for your assistance.
Hopefully someone can give me some advice. My situation is that I have my own Ltd co and have been working through it for about 9 months. For various reasons I will now be going perm. My wife has been working as a permie for last few years, but will now start contracting from next month. So my question is: can I give her say 40% of the co. and then she starts working through my co? If yes, it raises a few more questions:
a. Will there be any tax implications if I give her 40% as there is about £40k in co's bank account?
b. If she takes dividends from the income she brings in, do I have to take them as well?
c. Would it be better for her to take no divi or salary as my perm salary is more than enough for both of us?
Thanks in advance for your assistance.
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