contractor to permie

[eastway]

Thanks for the responses. Yes have maximised the dividends for this year.

For the new tax year, does the salary from permie job count towards dividend threshold?

As has already mentioned do speak with your accountant etc etc, but if you go permie you will still have a £2k dividend allowance @0%, any other dividends will be taxed at a rate dependent on your PAYE income.

[northernladuk]

As grim as NLUK can be, he's absolutely right. Your accountant is paid to help you with your individual circumstances.

Grim? That's a new one. I'll have to change my ways won't I.

Speak to your accountant you doofus

How dat?

[LondonManc]

Thanks for the responses. Yes have maximised the dividends for this year.

For the new tax year, does the salary from permie job count towards dividend threshold?

As grim as NLUK can be, he's absolutely right. Your accountant is paid to help you with your individual circumstances.

[GhostofTarbera]

Thanks for the responses. Yes have maximised the dividends for this year.

For the new tax year, does the salary from permie job count towards dividend threshold?

Lol - yes


Sent from my iPhone using Contractor UK Forum

[ContractingBrit]

Thanks for the responses. Yes have maximised the dividends for this year.

For the new tax year, does the salary from permie job count towards dividend threshold?

[Lance]

Pay yourself dividends up to higher rate tax threshold, before the 5th of April.

today


tick. tock....

[zonkkk]

Hi all

I have ended my short stint in the world of contracting and taken up a permie role. I want to keep the ltd company running for atleast a couple of months just in case.

Has anyone got any tips - best way to extract the remaining profits in the company bank account or just any tips in general from when moving from contractor back to permie?

Pay yourself dividends up to higher rate tax threshold, before the 5th of April.

[Lance]

Hi all

I have ended my short stint in the world of contracting and taken up a permie role. I want to keep the ltd company running for atleast a couple of months just in case.

Has anyone got any tips - best way to extract the remaining profits in the company bank account or just any tips in general from when moving from contractor back to permie?

You've got today to sort out anything for this tax year.
Tax efficient options for extracting dividends are limited once you receive a larger PAYE salary.
The "best way" depends on lots of factors. IMO the best way is to understand the options at a high level and make your own judgement call.

personally I'd keep my LTD. going until I knew for sure I'd never use it again. But that's me and I know my circumstances.

[northernladuk]

Thanks sherlock!

I want to discuss with people and know about their experiences on the forum, if it is okay with you?

Fill yer boots.

[ContractingBrit]

Yeah, your accountant.

Thanks sherlock!

I want to discuss with people and know about their experiences on the forum, if it is okay with you?

[northernladuk]

Hi all

I have ended my short stint in the world of contracting and taken up a permie role. I want to keep the ltd company running for atleast a couple of months just in case.

Has anyone got any tips - best way to extract the remaining profits in the company bank account or just any tips in general from when moving from contractor back to permie?

Yeah, your accountant.

[ContractingBrit]

Hi all

I have ended my short stint in the world of contracting and taken up a permie role. I want to keep the ltd company running for atleast a couple of months just in case.

Has anyone got any tips - best way to extract the remaining profits in the company bank account or just any tips in general from when moving from contractor back to permie?