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Recent content by Arab
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Dividends and salary
Clarification Clarification If I've understood correctly I will pay effective 25% on dividend income taken above the current limit of around £33k (don't have exact fig to hand). I tend to think of higher rate tax as 40% from my PAYE days so that may have caused confusion. Anyhow, 25% seems...- Arab
- Post #40
- Forum: Accounting / Legal
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Dividends and salary
Yes you're probably right Yes you're probably right I'd say that's probably it, rather than my actual use of the cash. However at the end of the day if you're unlucky enough to be investigated, surely any look at your personal finances would yield the information that you are using all or...- Arab
- Post #37
- Forum: Accounting / Legal
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Dividends and salary
Yes Yes Yep sorry, will ask around at work to see who others use locally. I'd prefer a local firm for some face to face time. Thanks for that steer- Arab
- Post #20
- Forum: Accounting / Legal
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Dividends and salary
As a matter of interest why would monthly dividends be an issue? As a matter of interest why would monthly dividends be an issue? Just a thought but we started paying monthly dividends as couldn't afford to do otherwise. Is that maybe what the accountant was concerned about in the event of...- Arab
- Post #19
- Forum: Accounting / Legal
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Dividends and salary
Thanks and quick answer to some of your Qs Thanks and quick answer to some of your Qs The Mrs does do a fair bit of work, doesn't have shares so not an income shifter:happy just pay her a small salary. She keeps time sheets etc No chance of being IR35 contract, accountant is aware of this so...- Arab
- Post #17
- Forum: Accounting / Legal
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Insurance: income, life and critical illness
We'v got the lot We'v got the lot I was pretty well looked after at my company before contracting so the Mrs insisted I got "like for like" cover so we were no worse off. My Ltd company pays around £300 per month for the following Critical illness cover Lump sum £100k on diagnosis of any one...- Arab
- Post #4
- Forum: Accounting / Legal
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Dividends and salary
Dividends and salary Thanks and in answer to the previous poster...I think he's worried that my dividends look like they're being used for what my salary was previously used for. He doesn't want dividends to look like I'm treating them as a replacement for my salary.....- Arab
- Post #3
- Forum: Accounting / Legal
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Dividends and salary
My accountant is a cautious fellow which is just the way I like him, most of the time, mHowever I do sometimes feel as though he suspects me of wearing a wire or having my office bugged, because I cannot get a straight answer from him on a fairly fundamental question and believe me, I've tried...- Arab
- Thread
- Replies: 53
- Forum: Accounting / Legal
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NIC payments, anyone got a "ready reckoner"
Relatively new to contracting but happy I know the basics ref PAYE/Dividends/corp tax et al. However, when it comes to NIC I genuinely feel I might have a part of my brain missing. As the sole director of my ltd company, I am paying Director's NIC, plus of course the company is paying...- Arab
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- Replies: 3
- Forum: Accounting / Legal
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Wife has asked Revenue dumb question and left her name!
I love her dearly (really!) but the Mrs has possibly landed me in it, so would appreciate your thoughts: Basically she was trying to suss out how much dividend we might take out of the business before end tax year and was confused about tax liability. Accountant on holiday, I was out of the...- Arab
- Thread
- Replies: 16
- Forum: Accounting / Legal
