Before anyone says "ask your accountant" I have and I'm a bit dubious about his response of £1,000 . So I'd appreciate if anybody could cast their eye over what I'm thinking and let me know if its correct or not.
I reckon that my personal allowance of £6,475 and the higher rate threshold of £37,400 means that I can have personal income of £43,875 before I would move into the 40% rate. I
My income so far this year has been:
Gross Interest Received - £ 2824.48
Dividends to date (£20,000 not including the dividend credit) - £22,222 (Including the dividend credit)
Salary £12,000
Total Income 2009-2010 to date £37,046.48
It’s my understanding that I would take my pension payments of £4,368.40off my total income to date.
If I do this it comes to £32, 678.08
Difference between (higher bracket amount) AND (Total Income - Pension payments.) £ 11,197
Additional Dividend to pay myself would be 90 % of £ 11,197, which would be £10,077.3
Am I on the right track here or am I getting horribly confused somewhere ? Any idea where my accountants figure of £1,000 may have come from ?
Thanks
I reckon that my personal allowance of £6,475 and the higher rate threshold of £37,400 means that I can have personal income of £43,875 before I would move into the 40% rate. I
My income so far this year has been:
Gross Interest Received - £ 2824.48
Dividends to date (£20,000 not including the dividend credit) - £22,222 (Including the dividend credit)
Salary £12,000
Total Income 2009-2010 to date £37,046.48
It’s my understanding that I would take my pension payments of £4,368.40off my total income to date.
If I do this it comes to £32, 678.08
Difference between (higher bracket amount) AND (Total Income - Pension payments.) £ 11,197
Additional Dividend to pay myself would be 90 % of £ 11,197, which would be £10,077.3
Am I on the right track here or am I getting horribly confused somewhere ? Any idea where my accountants figure of £1,000 may have come from ?
Thanks
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