Is £10k the optimal 2014/15 salary when 10% dividend tax credit is factored in?

[Old Greg]

For our clients drawing up to the high rate tax band, we're recommending a salary of £7,800.

The net pay (salary and divs) is the same as the £10k salary, but with the additional hassle of paying PAYE/Employer's NIC each quarter.

So what would concern me, Andrew, is that you take a position based on an understanding of the tax position of the two different salaries, but then stick to your position (which is disadvantageous) when your understanding is shown to be incorrect. Come on, man! We rely on you guys.

[Andrew@Wisteria]

Or even there accountant very overwhelming

THEIR - FTFY -Jeremiah

[jamesbrown]

I've decided to recruit a bank-transaction-monkey to ease the burden.

[Andrew@Wisteria]

So what would concern me, Andrew, is that you take a position based on an understanding of the tax position of the two different salaries, but then stick to your position (which is disadvantageous) when your understanding is shown to be incorrect. Come on, man! We rely on you guys.

The salary level decision wasn't actually taken by me personally, but having done a quick review at the time I thought it was the correct one. Same approach has been taken by crunch I believe.

If I have made a mistake then of course I'd happily admit it, I will reconsider our position on this in light of the discussions - there I've said it!

I still stand by my position that knowing my clients better than anyone on here, for the sake of a maximum of £165 it is not worth it for them.

Wanted to also comment that of course, it's very easy for some other accountants here to jump on the bandwagon to try and portray me/us in a further negative light - without actually giving any constructive comments, it doesn't really help to show that you are providing a quality, professional service.

I'm going to review some exciting accounts now - as much as I would love to stay on the forum all day, I do (believe it or not) have a day job to do.

Andrew

[Old Greg]

The salary level decision wasn't actually taken by me personally, but having done a quick review at the time I thought it was the correct one. Same approach has been taken by crunch I believe.

If I have made a mistake then of course I'd happily admit it, I will reconsider our position on this in light of the discussions - there I've said it!

I still stand by my position that knowing my clients better than anyone on here, for the sake of a maximum of £165 it is not worth it for them.

Wanted to also comment that of course, it's very easy for some other accountants here to jump on the bandwagon to try and portray me/us in a further negative light - without actually giving any constructive comments, it doesn't really help to show that you are providing a quality, professional service.

I'm going to review some exciting accounts now - as much as I would love to stay on the forum all day, I do (believe it or not) have a day job to do.

Andrew

Fair enough, Andrew, but I like to be presented with options. I don't always take the most tax efficient route in all areas, but I like to be informed and advised so I can make the decision. And don't take it heart - it's only CUK.

[Jeremiah@RHJAccountants]

THEIR - FTFY -Jeremiah

As others have said don't take it too much too heart

I just believe that with good communication with your accountant then one extra payment to HMRC for a contractor, is really nothing that will give them sleepless nights, simple!


and as for spelling hey i am an accountant so only good with numbers

[northernladuk]

and as for spelling hey i am an accountant so only good with numbers

That would be why you are mixing a spelling error up with a grammatical error

[Old Greg]

That would be why you are mixing a spelling error up with a grammatical error

It was a spelling error.

[northernladuk]

It was a spelling error.

How do you work that out?

[Jeremiah@RHJAccountants]

Time to go back to my bean counter you contractors pick up on everything