Surely this isn't a composite or a brolly, it's an accountant doing a bit more than a normal accountant would in running your own Ltd. And clearly they aren't all that great at accounting, but as you have the Ltd you should be able to create a bank account and appoint a decent accountant (subject to whatever agreement you have with these manged service people) without a change in contract.
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Will work inside IR35. Or for food. -
Not sure I like "Weekly Dividend" as well - red rag to a bull, that one.Blog? What blog...?
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does that comment indicate somethings not right then?Comment
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Not exactly, at least not the way you might think. Dividends are emphatically not supposed to be "routine" renumeration but the considered passing out of available profits. One of the things that might set off an IR35 investigation is the too-frequent issuing of dividends, since Hector will see them as (a) salary in disguise and (b) a deliberate attempt to minimise your tax liability which is perfectly legal, strictly speaking, but let's not get into that argument again.
Bottom line is divis should ideally be passed around not more than quarterly and probably not on too regular a basis anyway. That said, even daily is still legal, and it's your company after all (isn't it?)
More to the point, if your comp is deliberately paying weekly divis, then you are clearly operating a tax avoidance scheme - has it been registered as such with the revenue, I wonder...?Blog? What blog...?Comment
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