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Recent content by nomadicguy
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Dividends logic
I'm actually trying to understand a XLS the Accountants provided, and wanted assurance that my understanding was correct. 20% CIT is already paid, so if Personal Allowances are available, it seemed 'at worst' a 10% extra to pay....then the XLS shows a write-back of this 10/90 'Tax Credit' - only...- nomadicguy
- Post #4
- Forum: Accounting / Legal
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Dividends logic
Newbie 1st question ! Question: assuming no other income from Savings, etc......if Balance Sheet of our UK Ltd Co has 70k accumulated profit (already taxed), then the Mrs and I can take Dividends with approx. the following logic: 35k each Dividend, with 0% on 1st 5435, then 10% to pay on the...- nomadicguy
- Thread
- Replies: 4
- Forum: Accounting / Legal
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IR35 re-opening investigations
Closing UK Ltd Co every few years is very tidy way of clearing the decks. If I read correctly, accumulated Bal Sheet profits are already taxed at CT rate, and if say 100k was there, could be drawn out at cost of 10% extra ? Any limit to the 10% threshold ? Thanks.- nomadicguy
- Post #11
- Forum: Accounting / Legal
