Here we outline the some combination options for your salary and dividends from your limited company to make best use of the tax rates and allowances. Details of how to make payments with HMRC are listed here. Assumptions used: Tax and NI rates and allowances are as advised in the March budget The strategies are based […]
Here we outline the suggested combination of salary and dividends from your limited company to make best use of the tax rates and allowances. If you are looking at taking alternative combinations of salary and dividends, additional tax and NI will be due. Tax will be payable on all dividends in excess of £2k so […]
Dividend and savings allowances are available. We consider the opportunities and pitfalls of the personal tax rules. Dividend income […]
Used in conjunction with a salary at or just below the personal allowance level, the extraction of funds from the company using dividends still offers the most tax effective route to minimising your personal tax liability. […]
Those who work in the public sector will be only too well aware of the additional scrutiny on the use of freelancers and how they operate their tax affairs. Over the last year, we have received calls from clients who have been asked to provide assurances about their IR35 status and tax affairs. Our advice […]
The recent Autumn statement confirmed some major changes to the way that IR35 will be applied, in particular to the public sector. Here we will remind you what IR35 is about, what is changing and why there is a fear that the new reforms will leave a critical skill shortage of contractors in this sector. […]
If you run a limited company, you are probably already aware that the most tax efficient way to extract funds is by using a combination of low salary with the remainder as dividends. Significant changes took place from April 16 whereby the old 10% tax credit was abolished and all dividends in excess of £5k […]
