Is that £5K a month limit or PA?
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Dividends beyond £5k taxed wef 2016!!
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Originally posted by DimPrawn View PostIs that £5K a month limit or PA?
You won't pay any tax unless you earn over £132,000 a year......Comment
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Originally posted by DaveB View PostCould be worse, if you can keep your combined divi and salary payments below the Higher rate (£42,385 atm) threshold then yes you will pay more, but it's not catastrophic. 7.5% rather than 32.5%.
What it will lead to is more income shifting with partners taking divi's up to the limit as well as this will still be the best way to minimise tax due.
NI allowance is going up to £3000 as well, so there may be some room for mitigation based on that.
Wait I will get a council house and a small car !!!
What about normal contractors that take £100k divsComment
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Originally posted by DaveB View Post
NI allowance is going up to £3000 as well, so there may be some room for mitigation based on that.Comment
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Originally posted by TechJinx View PostIts per month - same as the £11000 without paying any tax and £43k higher rate.
You won't pay any tax unless you earn over £132,000 a year......Comment
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Originally posted by TechJinx View PostIts per month - same as the £11000 without paying any tax and £43k higher rate.
You won't pay any tax unless you earn over £132,000 a year......"Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.Comment
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Originally posted by Unix View PostSource? I doubt it when every other limit is stated in annual figures.Originally posted by DaveB View PostNo, it's per year, like all the other tax allowances.
yes of course its annualComment
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Originally posted by tarbera View PostAnd live in poverty ?
Wait I will get a council house and a small car !!!
What about normal contractors that take £100k divs
You would never in a million years fit into a small car.
There is no such thing as a normal contractor.Comment
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Originally posted by TechJinx View Postclearly I need the sarcasm smiley - however I thought it was evident from the obvious stupidity of the statement.
yes of course its annualComment
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Originally posted by Unix View Post
I had to look at the link as I thought that was the one where every forum post depends until someone compares someone else to HitlerComment
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