any Ltd Co. owners/directors here?

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AbbieCadabra

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this relates to Directors of Ltd Co. with employees - salary/dividend split 2016 onwards.

anyone changing from the usual low salary & majority paid by dividend now the new rules are here?

those with a basic tax code of 1100L, £8052 gross annual salary & £5000 dividend with no other income = no personal tax due.
anything above £5k dividend will now attract 7.5% tax, so if you take dividends up to the basic tax limit - £2025 tax will now be due.

notional 10% tax credit on dividends now gone, but employer allowance for those who still qualify (not sole director companies) has increased from £2k to £3k.

explained in more info here, with examples.

will be discussing with our accountant but i'm also nosey as to what others are planning! :eek: (don't feel the need to provide actual figures, just rough amounts will do).
 
Joke!!!!
 
Not changing anything, just having to suck up the extra tax, which in reality is still quite sensible when compared to what you'd pay if you were PAYE, even including Corp Tax.

I wanted to open a holding company on the Isle of Man and employ the Dutch Sandwich trick but my business partner is skeptical of the whole thing and won't play ball.

Just push what you can through the business so it's being paid for out of money that hasn't already been taxed and can be offset against CT.
 
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me? or the new rules?? :p

No the new rules!

They forget the tax revenues that company directors earn the government by the sheer amount of employees employed by companies.

Sorry I just don't like paying tax. :D
 
Me... I wont do anything, am sure my accountant will come up with something
 
No the new rules!

They forget the tax revenues that company directors earn the government by the sheer amount of employees employed by companies.

Sorry I just don't like paying tax. :D

That is what Starbucks et al argue too.
 
"
Originally Posted by StuartK
No the new rules!

They forget the tax revenues that company directors earn the government by the sheer amount of employees employed by companies.

Sorry I just don't like paying tax. :D"



Plumbing game is going well then? :)
 
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Me... I wont do anything, am sure my accountant will come up with something

hoping ours will too, i've just emailed her war & peace on why i really don't want to have to pay any personal tax to HMRC thank you very much! :crazy:

i'm just looking at the tax position overall, company & personal, & what we actually end up with in our pockets at the end.
 
"
Originally Posted by StuartK
No the new rules!

They forget the tax revenues that company directors earn the government by the sheer amount of employees employed by companies.

Sorry I just don't like paying tax. :D"



Plumbing game is going well then? :)

What do you do my favourite SLK driver? ;)
 
What do you do my favourite SLK driver? ;)


Not a joiner, more a dismantler... by explosives... I own/run a special effects company, we do effects for film , TV, rock bands, events etc, used to work on the old Top Gear. Everyday is like Mythbusters in my world :D

And when not doing that, in my spare time am in the Army Reserve - EOD

:bannana:
 
She's a joiner Stu...a perfect fit.

Wish she lived closed be ideal for refurbing houses :wallbash:

Not a joiner, more a dismantler... by explosives... I own/run a special effects company, we do effects for film , TV, rock bands, events etc, used to work on the old Top Gear. Everyday is like Mythbusters in my world :D

And when not doing that, in my spare time am in the Army Reserve - EOD

:bannana:

So basically our first date is going to be a cataclysmic event. Wondered why you were having special effects on me already :D :bannana: :devil: :rock:
 
Not sure about refurbishing a house, but I could definitely destroy it :)
 
Wish she lived closed be ideal for refurbing houses :wallbash:



So basically our first date is going to be a cataclysmic event. Wondered why you were having special effects on me already :D :bannana: :devil: :rock:

:doh: Get a room you two...


:D
 
Going to have to just trust my accountant's best judgement although I did take a very large dividend payment in March this year.
 
Nobody likes paying tax, everyone likes having hospitals etc.
 

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