Dividend vouchers and board meeting minutes - printed or electronic copies?

[psychocandy]

If your partner is not earning, then can do income splitting, thereby extracting 80K instead of 40K at 20% rate.
If they are earning, this doesn't work, as they will have already used up there lower tax rate allowance.

Depends how much they earn. My mrs only works part-time and earns about 12K so theres still 30K to play with there.

[northernladuk]

Cant you loan the money from the company?

Jesus christ.... I can only think you are a troll. It takes effort to say stuff this stupid..

[northernladuk]

I'll have been contracting 6 months by he end of this year. At that point, I was already planning to do what NLUK says and draw out enough money to last me for next year. Will put this in various savings pots, then "pay" myself my old permie-salary equivalent each month to pay the bills.

I just paid myself the full years divi as I had enough profit from years gone by and slapped it in premium bonds and just took lumps out when I needed it. Very quick return to get your money back and so far I am looking at around 2.8% return from winnings but obviously chance of winning is dwindling as the pot gets smaller. Was just something I always wanted to try. Hasn't been a disaster but might be worth looking in to something different. Gotta be firm with the budget planning though. Having the money so easy to get all year is very tempting.

[lithium147]

I just paid myself the full years divi as I had enough profit from years gone by and slapped it in premium bonds and just took lumps out when I needed it. Very quick return to get your money back and so far I am looking at around 2.8% return from winnings but obviously chance of winning is dwindling as the pot gets smaller. Was just something I always wanted to try. Hasn't been a disaster but might be worth looking in to something different. Gotta be firm with the budget planning though. Having the money so easy to get all year is very tempting.

Premium Bonds: Are they worth it?...
The value of prizes paid out is determined by an interest rate, which is currently 1.5%. It usually changes when the Bank of England base rate changes. If you owned every Premium Bond in existence, the amount won over a year would be equal to 1.5% of what you put in.

doesn't sound good to me..

[northernladuk]

Premium Bonds: Are they worth it?...
The value of prizes paid out is determined by an interest rate, which is currently 1.5%. It usually changes when the Bank of England base rate changes. If you owned every Premium Bond in existence, the amount won over a year would be equal to 1.5% of what you put in.

doesn't sound good to me..

Indeed but I have always fancied a go with them and as I need to take money out over the year at short notice the options were not fantastic so it isn't like I have missed out on thousands. I haven't done the research yet but there isn't much else that would have given me 2.8% so far.

Got any fraudulent or dodgy schemes I should look at?

[lithium147]

Some options here:
Top 10 Instant Access Savings Accounts UK - Compare Best Easy Access Account Rates

But best thing is to get an offset mortgage.
Can even get friends and family offsets now:
YBS Mortgages - Offset Plus for borrowers

[northernladuk]

Some options here:
Top 10 Instant Access Savings Accounts UK - Compare Best Easy Access Account Rates

But best thing is to get an offset mortgage.
Can even get friends and family offsets now:
YBS Mortgages - Offset Plus for borrowers

Thanks but not one of those accounts is useful because of the limits imposed, branch only no web access writes most off and there are terms attached to all the others so useless. The idea of friends opening an account so they can help me with my mortgage is just well... just not gonna work lol. My mortgage rate is lower than than any savings account so no point there. Many thanks for your interest in my situation though.... If I do need financial advice you will be the first person I contact.

[Wanderer]

But best thing is to get an offset mortgage.
Can even get friends and family offsets now:
YBS Mortgages - Offset Plus for borrowers

That's an interesting product. If a parent wanted to help out the kids but without gifting them the money outright then that might be a good option... Doesn't say what the interest rates are though.

[d000hg]

No one liked my idea of just doing one a year and investing the money and drawing what you want from that investment? Makes me glum.

Do you mean taking the full divi out of the company in one go, or declaring a single divi and then taking the money out as you need it (or as 12 equal payments each month)? Is the latter allowed - once you declare a divi does it have to leave the company in a particular timeframe?

[Wanderer]

once you declare a divi does it have to leave the company in a particular timeframe?

I think it's payable immediately but I don't think there is any obligation to pay it if the shareholder agrees to defer the payment.

It's an interesting question because raises the possibility of declaring a dividend retrospectively (eg, into a previous tax year) and then taking the money. Whatever the legality of doing this, no one would ever be able to prove that the dividend wasn't actually declared on the day the director claims it was...