Hi all
I'm considering taking a FTC role for a year. In the meantime, I also have money in my limited company (from contracting). Assuming I took a dividend this year to top up my earnings, how would the self assessment calculation work for Jan 2022 (or even Jan 2023)?
The...
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Fixed term contract & dividend payments?
Last edited by avgjoe; 18 January 2021, 15:41. -
Adding a foreign shareholder
Wondering if I have a company that makes around 40k a year, I have 50% share and a 50% share foreign shareholder who does not reside in uk or have a uk passport. Is it okay for that person to take 50% as dividends without doing any work in the company?
The foreign person is not a family... -
Difficulty moving accountant
Hi everyone,
For those of you who moved accountants how long did the process of getting your accounts up to date with the new accountant take?
It's been 3 weeks since I gave PayStream a formal notice (by email) and my new accountant keeps telling me that they haven't even... -
Spouse as class B shareholder - no more than 20%
Hi there, my first post.
After reading a few threads on this I'm still unsure exactly how to determine the correct dividend split % of my Ltd with my wife.
I've seen people say they've divided their Ltds 50% - 50% with their spouses, but my accountant advised me to give her no... -
Quick basic dividend question
My Ltd Co is just completing it's first year of accounts (financial year end is end of March 2018).
Retained profit is £22k.
What I wanted to know is if I could have declared a dividend of say £30k in March 2018 but to be paid later (i.e. when there are sufficient funds... -
Pension contribution creating substantial loss - is this an issue?
Can my company make a sudden and large pension contribution which takes the company into a loss? Assuming I keep the company solvent.
Imagine this scenario:
Earlier in the financial year I declared a dividend, while there was plenty of profit available, as I normally do... -
Borrowing to fund pension contributions
Hi. Newbie here. Have looked through archives but can't see this coming up before - possibly because it's barmy, you tell me.
I have a one-man limited company, from which I currently take a £12k annual salary and c £36k dividends. I'd like to divert some of the dividends into pension... -
Self Assessment - Dividend Tax - Payments on Account
OK,
So have done first draft of personal self assessment tax return.
£2K to pay in Dividend tax no surprise there.
Payments on account of £2K for tax on possible future dividends,
that's a bit of a surprise!
Given the ongoing economic uncertainties... -
Salary/Dividend and renting private property from the Agency
Hello all this is my very first post, I am Arthur and I have my little ltd company. As I am newbe I've got couple question. I do pay myself basic salary (minimum wage) and dividends each month at the minute I am looking to rent new home for my family and I am wondering how to show my income to property... -
Contract Newcomer Umbrella Scenario
Hello, after some years of permanent role, this is the first time that I am changing my professional career to be a freelancer contractor.
I have a won my first contract (through an recruiting agency) to work on a European east country (member of EU).
The umbrella company... -
Dividend withdrawal strategy on closing limited company
Hi
I am thinking of closing my limited company, i have just over £1000 left in the account in addition with my coorporation tax. how do i get the £1000 out before or after i do my final account? -
Salary paid in one go? And how much?
Hi there,
My ltd has been trading since mid-April. As of now, I haven't taken any salary or dividends. I've had no other income from other sources.
I'd like to extract some funds. I realise starting with a salary is the most efficient initial source because it's an expense... -
Dividend/salary
Hi
My first contract is likely to start around mid August. Through my permanent employment I have already exceeded the 10k tax free earnings bracket. My accountant has suggested I either take a small salary and pay tax/ni (they would run a monthly payroll) and take the rest in dividends, or,... -
Advice from experienced contractors please
Hello – I have just taken voluntary redundancy after nearly 27 years working as an employee. I am now trying to figure out the best step for my future employment (employee, contract via Ltd Company or contract via Umbrella Company). I have read the PCG “Guide to Freelancing” (as advised by one... -
Dividends or PAYE
I've recently started contracting and setup a limited company. I got an accountant who advised me to take dividends at quarterly intervals and that he didn't think it necessary to setup payroll. When I asked him what about national insurance contributions he said something along the lines of, at the... -
What's the point in setting up a company and paying dividends?!
Ok I have read and re-read guidance and posts on this site and I still don't understand... sorry..
We have 2 directors/shareholders, one earning £20k p.a. and the other £40k p.s. in their full time jobs. We rent a house for holiday lettings and have set up a company for that purpose. At the... -
Moving from Limited to Umbrella (Tax/Dividends Question)
Hi all,
I'm coming up to the end of a year trading as a limited company and I must admit it's been a steep learning curve and quite a few headaches sorting things out (I won't blame my accountants
).
I was considering closing down my company and moving to an umbrella... -
Overpaid Dividend
Hi All,
My company tax year runs to 31 March. On the 2nd of April I figured it was a new year and paid myself a £27k dividend. My accountant has just advised me that this falls within the personal tax year which runs to 5 April.
Effectively I have overpaid my allowed... -
Seeking salary advice
Hi all,
I am hoping to gain some advice on my salary/dividends.
This financial year apr 2011 - apr 2012 I have had 2 PAYE jobs for a total of 5 months. I have just started contracting in October and setup my own limited company.
I have earnt over the tax... -
Shared ownership: Director vs Company Secretary & divorce/separation
Having done my research I'm about to set up my partner with a 30% share in my company. I have two questions:- My accountant has advised my partner should also be the Company Secretary. Based on my research there is no requirement for my partner to be a Company Secretary or a Director to be a shareholder.
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newbie tax question
I have had a look through an awful lot of ads offering to avoid tax on contracting income. My question is basically to what extent is it worth bothering, seeing as the vast majority of the advertisers are at best keen on being misleading and at worst outright lying (retain 90% of your pre-tax income,... -
Salary treated as Dividends
Hi there,
My accountant has treated my salary as dividends on my last personal tax return and she said that as long as both personal and company tax return match, there is no problem.
I wrote "Salary" as reference on every bank transfer that I made.
Now, my bank... -
Dividend Splitting - And subsequent benefit to me. Legal?
I think I know the answer to this before I even ask it, as what I'm suggesting could be considered evasion, but that is why I'm asking.
My partner is moving into my flat with me, and I want to take the dividend splitting route. All is fine there, she will earn her divvies with paperwork... -
How to make the most of unclaimed dividends?
I thought I'd ask this question to see what the general approach was to making the most of cash left in your own businesses (of you're operating as a LTD company).
I pay myself a salary and then take dividends from time to time. However I only take the amount of dividends to remain under...
