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Dividends – Must be paid out of Profits!
Receiving dividends from your limited company is a very tax efficient way of getting cash out of your company however there are some pitfalls that need to be avoided. If you get this area wrong you’re...
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How much tax can you save trading through a Limited Company
One of the most popular questions we get asked by clients is ‘how much tax can I save by trading through a Limited Company‘. The answer depends upon quite a few variables but in the case of an owner...
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Directors Tax Returns / Self-Assessment
I am a Director of a Limited Company and am not in Self-Assessment – do I need to register with HMRC for Self-Assessment? HMRC tell you that because you are a director you have to register for...
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Personal Tax Return Checklist (Self Assessment)
We have included below a list of typical tax return items that should be considered for your personal tax return (SA100). Typical Personal Tax Return items: - Student loans - Interest received from...
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Best Salary and Dividend Levels for the 2014-15 Tax Year
If you trade through a Limited Company the real tax savings come through taking a low salary with the balance of any drawings in dividends. For the 2013-14 tax year the basic level of salary for one...
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The Dividend Process in FreeAgent
As FreeAgent Friendly Accountants we have outlined below how the dividend process works in FreeAgent. Remember there are two key elements to consider when voting a dividend: 1 – Does the Company have...
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How to Minimise Child Benefit Tax Charge
Question: “I am a management consultant trading through my own Limited Company. I am the only shareholder and director and I expect my salary and dividends for the 14-15 tax year to be about £55,000....
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FreeAgent Dividends
We’re going to show you the process of dealing with dividends on FreeAgent. We’re assuming simple one shareholder businesses here – your typical freelancer or contractor limited company. The first step...
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New Dividend Tax from April 2016
On Wednesday 8th July 2015 George Osborne delivered a summer budget and one of the biggest changes announced was how dividends are taxed from April 2016. As they stand these are proposed changes that...
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Tax charge on taking dividends in the higher tax band
I am an IT contractor working through a Limited Company. I invoice approx £100k per year + VAT (I am on the flat rate scheme) and have little expenses. I don’t have any other income outside of my...
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