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dividends

  1. B

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

    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...
  2. K

    Amending company accounts to include dividends

    I filed my accounts, but completely overlooked the fact that I had not raised, declared or paid any dividends that year. Normally my accountant advises what to pay as salary and as dividends. As my company had been dormant (I assume that's why), they didn't offer any advice last year - I just...
  3. D

    Umbrella employee taking dividends from dormant company

    Hi contractors, need some advise here: 1) Can I take dividends from a dormant company whilst working for an umbrella? 2) If yes, and I take dividends from my dormant company, what tax rate would I be looking at? Will these these be the usual dividends tax rate of 7.5%, 32.5% and 38.1%? Or...
  4. AnotherGuy

    MVL, entrepreneur tax relief and dividends

    Hello, :wave: I will be doing a MVL of a solvent LTD with considerable retained profit to distribute to just one director i.e. me. I've communicated this to my accountant and they've cancelled the monthly DD for their services and asks for £200+VAT for cessation procedures. Still they will be...
  5. A

    Hypothetical MVL and Dividend scenario

    Hi, Just a hypothetical scenario. Let's say I went MVL and the distributions arrived in April/May, and then for whatever reason I was fired/made redundant in November time. Could I then recreate a new limited company and trade via that, on the condition that I claimed the distributions from...
  6. F

    first year contracting / dividents

    Hi there, I started contracingt just about 7 months ago, and have a question about dividends. I have taken about 2/3 of lower % dividents out, but have money in my bank account saved up for tax, just thinking is it worth taking that money out as dividents, as tax doesn't need to be paid for a...
  7. P

    Moved out from the UK and closed my company but not sure where my dividend tax will b

    Hi everyone I'm non-UK national who used to contract for the past 5 years in the UK via a limited company. During this time I accumulated money in my company's. I moved out of the UK in May to Malta. I went in through SRT test with a tax residency professional who confirmed that I'm...
  8. W

    How to pay dividends to foreign shareholders

    Hi all, I've my mother as 25% shareholder for my company as a foreign shareholder and she lives in India. How do I send her dividends share to her? Can I withdraw her dividend cash from the company bank account and record it as her dividends in company account? she doesn't have a bank account...
  9. R

    Illegal dividends or not !

    I`ve a question on these Dividends and need to know more if what i am about to say will be illegal dividends or not. I am an IT contractor and my company gets paid every month. Say my company bank account has £20,000 as its balance as of today. Is it correct for me to declare £19,000 as...
  10. D

    Contracting through a UK-registered Ltd Company but tax resident abroad

    Hello, this is my first post on this site. Over the last 5 years, I have been contracting, through my UK-based Ltd company, with London based clients in the IT sector. At the same time, I have been tax-resident in the UK. I do 100% of the work remotely from my laptop and, hence, I have...
  11. J

    Retrospectively claim dividends as salary - how far back?

    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. I'm...
  12. D

    Dividends - adding my wife as shareholder

    This is my first post so apologies if this is been addresses before - I've tried looking at the dividend link to right of this page (Limited Company Dividends Guide :: Contractor UK) and have tried searching the forums here to no avail. Go easy on me as I'm not fully conversant on what I need...
  13. R

    Personal income tax on dividends

    I am taking all of my dividends this year. If I take about 70K as dividend, Do I need to pay anything else apart from the dividend tax of 22.5%? Is there any personal income tax is involved on top of the dividend tax?
  14. F

    Reconsider the new Dividend Tax for small businesses - Gouvernment Petition

    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...
  15. S

    HOw much dividends to pay for 2015

    Hi, Sorry for a newbie question: I have a ltd where I am a director( i am an IT contractor): my salary as per my payslips is gross 999.60 every month, I dont know why is this amount: My accountant suggested this figure How much dividends shall i pay for the period from Apr 2015- Apr 2106 , I...
  16. S

    Shareholder to withdraw more dividends

    Hi all, I have been contracting for couple of years. I am looking to buy my house and am in need of more cash for my deposit. My accountant advised me to consider making a (non working) friend as my shareholder. I am single so I dont have an option to make my spouse a shareholder. My friend...
    • Sophieuk
    • Thread
    • dividends shareholder tax planning
    • Replies: 32
    • Forum: General
  17. B

    Taking large amounts of cash from LTD company

    Hi, I have a LTD company where I do the usual thing of paying myself a salary and taking dividends. I'm starting to get a small stockpile of cash and in a year or two, I'd ideally like to buy a house. What would be the most tax efficient way to get this money (around 150k) out of the company...
  18. S

    Appointing mother as Ltd Co shareholder

    Hello all, I am currently contracting and looking to start up a new company with my mother as a 30% shareholder. She is unemployed and I may ask her to look after my financials and invoicing etc in return for dividends or may just gift them to her because she's lovely. Is this something the...
  19. P

    Can I retain profits within the company if I'm working inside IR35?

    I'm currently working through my own limited company on a contract inside IR35. I'm a higher-rate taxpayer and I'm already maxing out my pension contributions. I'm getting close to retiring and in a few years I plan to be retired or semi-retired; either way I will definitely be a lower-rate...
  20. U

    Starting limited company with existing PAYE earnings from previous job

    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 free...

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  1. Contracting
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