Pay myself nothing for a year?

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BrilloPad replied

4 January 2008, 08:29
try the "ask beaker" thread.

HTH
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beaker replied

4 January 2008, 08:24
Damn...
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Sockpuppet replied

4 January 2008, 07:55
Originally posted by beaker View Post

Say I have enough in the bank to pay all my outgoings for 12 months... what's stopping me taking no salary (ok maybe min wage) and no divs that year, then winding up the company at the end of the year and taking all the money as a capital gain?

Is this worth doing? Any problems with it?

Yes. The law changed. From April you pay a lot more tax if you do this. But to qualify the company must have been running for 2 years before you can do this so the coy must have been open for 2 years at April.
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MrRobin replied

4 January 2008, 07:45
Why would you want to pay an extra 18% CGT on money you can take out as dividends tax free??
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beaker started a topic Pay myself nothing for a year?

3 January 2008, 23:51
Pay myself nothing for a year?

Say I have enough in the bank to pay all my outgoings for 12 months... what's stopping me taking no salary (ok maybe min wage) and no divs that year, then winding up the company at the end of the year and taking all the money as a capital gain?

Is this worth doing? Any problems with it?
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