Originally posted by SueEllen
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Reply to: Splitting divs between husband and wife
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Previously on "Splitting divs between husband and wife"
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Originally posted by spig View PostCan you only income shift in this way to your wife? I'm not married but am considering doing this with my long term girlfriend who I live with, as long as it wouldn't cause problems with the taxman
People I know have one or both their parents as directors and shareholders.
Originally posted by spig View PostI was thinking you could issue shares to anyone, but surely there must be some rules on this to stop people making each of thier kids equal shareholders, or elderly relatives.
The income shifting consultation document included anyone having shares in a company whether they were related to you or not, lived in your household or not.
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Originally posted by moorfield View PostI've always understood divi waivers to be a big no no no?
50/50 split with the missus, I'm taking the money and running while I can.
By example, company has 100k of reserves and devided to pay a dividend of 1k pershare. Shareholder 1 gets 50k and shgareholder 2 waits, so the 50k is inb the company - safer.
If the company paid a dividend of 2k per share because shareholder waived then this would be much less safe because the company could only pay that dividend because of the waiver from shareholder 2.
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Originally posted by moorfield View PostI've always understood divi waivers to be a big no no no?
50/50 split with the missus, I'm taking the money and running while I can.
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Originally posted by Fred Bloggs View PostWhile Arctic Systems was bubbling away, I kept my pay/divi below the 40% threshold and the missus took a dividend waver.
50/50 split with the missus, I'm taking the money and running while I can.
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Originally posted by jss1961 View Postany idea what the form number is?
i looked on companies house site but no idea where or what form to look for..
thanks.
says:
Originally posted by CompaniesHouse10. Must a company notify Companies House when it has made an allotment of shares?
Within one month of the allotment of shares, a company must deliver a return of allotment, on Form 88(2), to Companies House. No fee is payable to Companies House.
http://www.companieshouse.gov.uk/for...Info.shtml#882
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Can you only income shift in this way to your wife? I'm not married but am considering doing this with my long term girlfriend who I live with, as long as it wouldn't cause problems with the taxman. I was thinking you could issue shares to anyone, but surely there must be some rules on this to stop people making each of thier kids equal shareholders, or elderly relatives.
If I was able to do this and keep her earnings overall below £40k, does this mean she would have to fill in a self assessment tax return?
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You fill in a form from the Companies House website. Easy peasy.
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Originally posted by Fred Bloggs View PostWhile Arctic Systems was bubbling away, I kept my pay/divi below the 40% threshold and the missus took a dividend waver. That led to there being a fair bit of cash in the business account. Post Arctic, the missus is now taking divis again and we've drawn out all the surplus cash that was in there. I operate the bank account with as little cash in it as possible, that way there's less cash available in the business to attract the attention of Hector.
what do i have to do to add her as a shareholder?
can someone point me to the relevant forms?
thanks.
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Originally posted by ASB View PostIt's the most bizarre wording. I work for a multi billion international service provider. I like most of the other few thousand employees have a few shares.
We all have to ticke the box under that wording.
Would you really qualify under all three? As long as you don't qualify under one, you don't have to "tick" the box.
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Originally posted by TazMaN View PostI didn't think that cash in the business account would attract HMRC's attention. If anything, taking large dividends would probably get more attention seeing as it's highlighted on the tax return.
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Originally posted by Fred Bloggs View PostWhile Arctic Systems was bubbling away, I kept my pay/divi below the 40% threshold and the missus took a dividend waver. That led to there being a fair bit of cash in the business account. Post Arctic, the missus is now taking divis again and we've drawn out all the surplus cash that was in there. I operate the bank account with as little cash in it as possible, that way there's less cash available in the business to attract the attention of Hector.
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Originally posted by TazMaN View PostI've been off the radar on this one Fred so would appreciate an explanation on why you do this?
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