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Recent content by GezHells

  1. G

    Amount of dividend versus profits

    Ok, thanks. But for this year in question, there were very little earnings, so the CT will be minimal anyway. The only point I was checking was that there was no immediate tax implications from taking the higher dividend (but still below the personal allowance).
  2. G

    Amount of dividend versus profits

    Ok, please humour me - tell me why you think this is going to cost me? My combined salary and dividend will still be below the personal allowance level (plus the 2k tax free dividend). The only difference is I'm taking less salary than usual. So it's roughly 4k salary and 10k dividend, rather...
  3. G

    Amount of dividend versus profits

    What about when I file my accounts? That seems to operate on a simple profit and loss principle... if my outgoings (i.e. my salary) is greater than my earnings for the year, then it records a loss. Which, I assume, makes the accounting more complex, and hence I'm trying to avoid.
  4. G

    Amount of dividend versus profits

    Haha, yes it's that guy :ohwell Why would I need an accountant when I've got you lot on this forum, eh?! Being serious - yes I do get it. Well, the basics anyway. I've stopped paying myself the usual salary as I haven't been earning recently, and didn't want to have to submit my accounts with...
  5. G

    Amount of dividend versus profits

    Understood :smile Thanks all.
  6. G

    Amount of dividend versus profits

    Thanks. And just to add one more scenario... this year I paid myself less than normal, only around half of the usual 8.5k. I assume it's OK to take a higher dividend to take me up to the personal allowance limit (12.5k + 2k tax free dividend allowance)?
  7. G

    Amount of dividend versus profits

    Hi. Hopefully a very simple question, and a simple answer. The amount of a dividend doesn't bear any relation to the profits for the year, I assume? Example, the company bank has 20k, accumulated from profits over some years. This year, the profits were 5k. I choose to pay a dividend of 10k...
  8. G

    Advice on my low earnings situation

    Thanks, understood. Yes, as you suggested, I was considering using spare company cash to pay myself but I realise I can't do that for too long. I'm hoping that by the new year (or not long after) things will be back to normal. If not, I shall have to consider closing the company - which is...
  9. G

    Advice on my low earnings situation

    Thanks for the reply. May I ask why that would be such a bad thing? I'm really not sure of the consequences of operating at a loss, hence my original question.
  10. G

    Advice on my low earnings situation

    Hi all, I'd appreciate some advice on my current situation. I operate as a one man limited company, implementing the fairly standard method of a salary up to the Primary Threshold (i.e. around £8.5k) and dividends when appropriate. Due to personal circumstances, over the last two years my...
  11. G

    Do I have a way out of this situation?

    There's one thing I'm still unsure about, before deciding on the way forward. If I turn round and say, sorry guys, I'm out of here - is there anything they can legally do to force me to continue?
  12. G

    Do I have a way out of this situation?

    Thanks for the responses. To answer a few of your questions... Nobody checked out the contract. I'm useless at these things, and in the past have had people to do this kind of stuff for me. I think a lot of it is down to trust in this case. No end date was specified, it was just assumed by both...
  13. G

    Do I have a way out of this situation?

    Hi. First post in recent years but long time browser (forgot my old user from years ago!). I'm an app developer, and took on a short contract in October, intended to last around 3 months. We agreed a fixed fee for the work, with invoicing split into four payments. The contract was a 'statement...
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  1. Contracting
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      1. Coronavirus Assistance
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      1. Umbrella Companies
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    5. Welcome / FAQs
  2. Social
    1. Light Relief
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