Wages and Dividends for 2019-20

Posted by Kath Docherty on February 19, 2019  /   Posted in Contractors, Directors Remuneration, Dividends, Employers

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 you should ensure you make sufficient provision to pay this additional tax by making regular payments to HMRC throughout the year.

Details of how to make payments with HMRC are listed here  

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