Hi
I am new to contracting and have a few basic questions which I hope some one can answer.
I set up my company in March, I paid an accountant to do it for me and I have 1 share.
I have received wages and dividends every month which i put aside 20% for tax and the rest is divided as a salary to my wife and to me and then what ever is left is paid half to my wife and half to me as a dividend.
I thought my wife would need a share in order for her to receive dividends, my accountant says that when he does my tax return next march he will just tell them then that she has a share then, is this right?
I also have registered for Vat, I have just received the Vat agents authorization code for me to give my accountant, however it is not in his name or address, he says it is because he bought the business off someone else and has not have it transfered yet.
Pat
I am new to contracting and have a few basic questions which I hope some one can answer.
I set up my company in March, I paid an accountant to do it for me and I have 1 share.
I have received wages and dividends every month which i put aside 20% for tax and the rest is divided as a salary to my wife and to me and then what ever is left is paid half to my wife and half to me as a dividend.
I thought my wife would need a share in order for her to receive dividends, my accountant says that when he does my tax return next march he will just tell them then that she has a share then, is this right?
I also have registered for Vat, I have just received the Vat agents authorization code for me to give my accountant, however it is not in his name or address, he says it is because he bought the business off someone else and has not have it transfered yet.
Pat
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