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dividend

  1. A

    Fixed term contract & dividend payments?

    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 proposed salary is...
  2. K

    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 member...
  3. P

    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 received any reply...
    • PK2
    • Thread
    • accountant accounts dividend paystream switching
    • Replies: 6
    • Forum: Accounting / Legal
  4. P

    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 more than 20% of...
    • PK2
    • Thread
    • class b dividend income distribution split spouse
    • Replies: 9
    • Forum: Accounting / Legal
  5. D

    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 available) OR can the...
  6. B

    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 every year. For some...
  7. M

    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...
  8. D

    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 for the UK and contractors, I have no idea...
  9. A

    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...
  10. I

    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 says that I can make...
  11. S

    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?
  12. R

    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 and so my company...
  13. L

    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...
  14. B

    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...
  15. C

    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...
  16. N

    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 end...
    • Novice
    • Thread
    • corporation tax director dividend income tax shareholder
    • Replies: 12
    • Forum: Accounting / Legal
  17. P

    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 company. Obviously I...
  18. B

    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 dividends for the year by...
  19. B

    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 free allowance. I wanted to ask for...
  20. J

    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...

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  1. Contracting
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