Wife is shareholder - Tax implications

[zamzummim]

Accountants are an arse... I am still in search for a nirvana account software for idiots.

[northernladuk]

Let me fix that for you

You, sir, are a gentleman!!

Heaven forbid I would leave a post on here that made me look like an idiot!!

[JamJarST]

Are you not playing with fire a little distributing your money without knowing the basics? An accountant could save you alot of time and possibly money in the future.

Let me fix that for you

[Clare@InTouch]

Hi all

Can you help please?

I have put my wife down as a shareholder and I pay her dividends.

Her salary from her occupation plus dividends falls below the upper tax limit.

Does she need to do a self assessment return each year?


Thanks for your help.

Technically probably not if she has no liability, but HMRC may send her a return anyway. Often it's easier to just file one anyway, saves any hassle at a later date.

Your accountant can advise you fully, along with giving advice on the best income structure for both of you.

[northernladuk]

Are you not playing with fire a little distributing your money without knowing the basics? An account could save you alot of time and possibly money in the future.

[SueEllen]

Maybe -

HM Revenue & Customs: Do you need to complete a tax return?

If you don't already complete a tax return, you'll need to do so if you receive any of the following:
£10,000 or more income from savings and investments

[happydays]

Hi all

Can you help please?

I have put my wife down as a shareholder and I pay her dividends.

Her salary from her occupation plus dividends falls below the upper tax limit.

Does she need to do a self assessment return each year?


Thanks for your help.