Dividend & Tax Year.

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Sockpuppet replied

3 April 2009, 18:54
limit is £40,835 that includes tax free bit.

So you can take a max dividend of: £37,120 (cash in pocket) the the 10% voucher brings it upto 40835
Leave a comment:
centurian replied

3 April 2009, 17:57
Originally posted by landl View Post

It sounds like you're about 5k short of the upper tax band for the 2008/2009 tax year, so I would suggest you declare a dividend of around 4k before 6th April to maximise your use of the lower rate band this year, then declare another Dividend after 6th April for the 2009/2010 tax year if you need the extra money.

Then again, I've only been running my limited company for a few months, so if any more experienced heads are out there to sanity check, please speak up.

I thought the limit was around 40K - give or take a few quid.
Leave a comment:
Pickle2 replied

3 April 2009, 14:58
Is that the best you could do suitsyou?
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landl replied

3 April 2009, 14:52
Take some out now, and some out in a week

Originally posted by Goodmans View Post

Hi Contractors,

I took around 15K as salary and 20K as dividend for the TaxYear 2008-09 year, so I wont cross 40K limit. And we are in new tax year now.

When can I take new dividend now?
Is it better wait till 6th April 09(Tax year starts from 6th April i guess) or is it ok to take after 1st April 2009.

Your help is very much appreciated

Regards
G

It sounds like you're about 5k short of the upper tax band for the 2008/2009 tax year, so I would suggest you declare a dividend of around 4k before 6th April to maximise your use of the lower rate band this year, then declare another Dividend after 6th April for the 2009/2010 tax year if you need the extra money.

Then again, I've only been running my limited company for a few months, so if any more experienced heads are out there to sanity check, please speak up.
Leave a comment:
Goodmans started a topic Dividend & Tax Year.

3 April 2009, 11:25
Dividend & Tax Year.

Hi Contractors,

I took around 15K as salary and 20K as dividend for the TaxYear 2008-09 year, so I wont cross 40K limit. And we are in new tax year now.

When can I take new dividend now?
Is it better wait till 6th April 09(Tax year starts from 6th April i guess) or is it ok to take after 1st April 2009.

Your help is very much appreciated

Regards
G
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