Contracting and mortgage repayments - low salary, high dividends? Other options?

[Boris4PM]

This may appear as a stupid question. My personal circumstances have changed and I am now facing a big hike in mortgage repayments (I'm looking to pay my former partner out of her share of our flat) so will be facing monthly payments of probably £2500/month.

I am in early discussions with...

[Ash12004]

Hi,

I am currently negotiating my contract and have seen in both Giant's and Nasa's contracts that it mentions:

1.) National Minimum Wage
2.) Bonus which is discretionary.

I was told that on my monthly payslip it would be split as above.
...

[SJ8812]

Hi, hoping there might be some on here able to offer an opinion..

I’m a mechanical engineer in the shipbuilding industry with 6.5 years of graduate level experience and I’m looking for a bit of advice on my present situation so apologies for the long post. I’ve moved around a...

[fatbadger]

Hello

I've never contracted but I've been offered a 12 month contract on £50/hr so £400/day making = 40 h x £50 x 46 weeks (i.e. knock off 6 wks hols) = £92k
For a newbie to all this that sounds a lot, but having read a few posts perhaps not?? I just want to check your thoughts?...

[LITSM]

I've finally taken the plunge and opened up own company. When it comes to paying myself I've read that it is best to pay yourself £8,164.00 per year so that you don't need to pay NIC but still get awarded the credits towards your state pension. However if I am to pay myself (it is only me working...

[AlexVB]

taking a question down.
as it was "completely" covered with good feedbacks.
thanks to all who promptly responded.

[contractingMan]

Background
I have done 5 years of software development as an independent contractor in the UK, after working in permanent posts for 10 years. I now want to pursue contracting work in the US. I am a US citizen so visas, etc. are not a problem.

In the UK I have contracted onsite...

[ArthurB]

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...

[James131]

Hi everyone,

I'm new to running a limited company and I have made the mistake of paying myself and the other 50% shareholder solely in dividends - £15,000 since our incorporation on 03/02/2015. I should note that we're a new start-up and neither director has any other sources of income....

[Guest22]

I have been offered a contract in the Netherlands and I understand I could work in one of the following ways:

1. Under my own BV (Netherlands limited company).
   
2. Under my UK limited company.
3. Via a payroll company.
   
4. Part payment to my BV or UK limited company and part payment (€200)

...

[focus]

I do not know how many of you are aware on the extra tax on dividends that the government is introducing. The government want to stop business owners being paid via dividends to reduce tax bills. This flies in the face of risk & reward for running a business & contributing to the economy. Life...

[anandan]

Hi,

I have an Limited company (A) where I am the only Director, and from where I draw monthly salary. The company (A) gets biweekly income from another company (say Cisco) where I work as a contractor.

The contract with that company is going to end this month end, and...

[russtifer]

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...

[uncleringo]

I started my first contract in September and have just received my first invoice payment, phew!

My earnings from permanent job salaries since April this year come to £26.5k, and for some reason my tax code was changed earlier in the year down to 108T which means I have hardly any tax...

[bonebaker]

Sorry, but searches didn't help.

I started my company with my first shaky contract in May 13, long commute, low rate, but this has strengthened and ended the year in good form but very, very, busy.

My leaving payment from last permanent position set me up so that I didn't...

[MnF]

Hi

I am just in the process of changing from a sole trader to a Ltd Company, and I getting lots of conflicting advice. The main reason I am changing is that I was told that I can have myself and my wife as shareholders, pay ourselves a minimum salary (about £7000/year each) that will...

[blinko]

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...

[Master]

I started my contract in Nov. Was a permie before. As I have earned more than 40% limit for this year in my prev job, have not been paying myself any salary or dividend. My spouse is not working and is a shareholder and employee of our limited. Through our limited, she is getting £583 / month since...

[Prasad London]

Dear Experts,

1. I transfered Salary from Business account to Personal account on different dates in different months .. 2nd, 3rd.. 8th and one on 11th.
Is this OK?

2. Is it ok if the date on payslip differs with the date I received the money into the personal account?...

[SarahC]

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...