- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Reply to: Take a big dividend this year?
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "Take a big dividend this year?"
Collapse
-
Yes, as indicated above, you can do this at any time via an SA303 or, perhaps more conveniently, in the "Payments on Account" section of your SATR/SA100.
-
Originally posted by iainp999 View PostI asked my accountant about this as I'm taking a large dividend this tax year, as a one-off.
She says that she can apply to reduce the payments on my tax return, so I shouldn't need to do anything.
HTH.
Leave a comment:
-
Originally posted by MrMarkyMark View PostI did the same, but will reduce the payment on account as has already been suggested.
She says that she can apply to reduce the payments on my tax return, so I shouldn't need to do anything.
HTH.
Leave a comment:
-
Originally posted by Gaz_M View PostHow do you do this?
Leave a comment:
-
Originally posted by Platypus View PostI risked it and bumped by income to £100k. I didn't think about the tax on account thing. Too late now! I guess I'll get it back eventually. If my circumstances change I could live to regret it of course
Leave a comment:
-
Originally posted by Platypus View PostI risked it and bumped by income to £100k. I didn't think about the tax on account thing. Too late now! I guess I'll get it back eventually. If my circumstances change I could live to regret it of courseLast edited by MrMarkyMark; 30 March 2016, 00:11.
Leave a comment:
-
I risked it and bumped by income to £100k. I didn't think about the tax on account thing. Too late now! I guess I'll get it back eventually. If my circumstances change I could live to regret it of course
Leave a comment:
-
If you don't need it then leave it alone. IMHO. at the moment the reason everyone is fed up is because the higher rate will be 32% not 25% but if George gets his way then the higher rate threshold will go up to 50k and you will be able to take more out at the lower 7% tax threshold.
Leave a comment:
-
If you don't need the money I'd be tempted to leave it in the business until you do need it.
Leave a comment:
-
Originally posted by stek View PostTrouble is taking a wodge over the lower rate means you have to also pay next years tax on account as well so it's like being taxed at 80% in a way....
Leave a comment:
-
Trouble is taking a wodge over the lower rate means you have to also pay next years tax on account as well so it's like being taxed at 80% in a way....
Leave a comment:
-
I was being a little tongue in cheek as my standard line is asking accountants but I think in this case I would be factoring a lifestyle choice in over tax efficiency.
There is more than enough money there to not have to let the tax tail wag the dog. If I had that kind of money in the business I'd be quite happily taking a tax hit to enjoy my personal life... If you've no significant other half you' best enjoy it while you can....
Leave a comment:
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: