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How to take money out of small buinesses now

How to take money out of small buinesses now

Can anyone point me in the direction of some advice about what to tell my clients about taking money out of their business under the new dividend tax rules?  I think the new rules about the employment allowance should also come into the mix.  What is going to be the best way for a sole director/shareholder to take money out?  What are the charges for dividends over £5,000.

Thanks

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02nd Mar 2016 11:42

Clients? You mean clients that are relying on you for tax advice? Oh dear.

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02nd Mar 2016 11:48

Best advise
you can give them is to find a competent accountant.

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By iknell
02nd Mar 2016 11:50

Giving advice?

Every client needs to be separately advised depending on employees, profits etc.  

I pity your clients if you haven't researched this already.

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02nd Mar 2016 11:59

1 april is ages away

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02nd Mar 2016 12:35

available advise

There is a lot of available advise on the HMRC website regarding dividends and sharholdings etc., also seek advise from qualified tax accountant who I am sure can answer your questions obviously at a cost, but maybe thats the best option here.

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02nd Mar 2016 12:40

I would also seek advice.

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By mwngiol
02nd Mar 2016 13:04

Advice

cheekychappy wrote:
I would also seek advice.

I would advice the same.

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02nd Mar 2016 17:35

Typo Police

mwngiol wrote:

cheekychappy wrote:
I would also seek advice.

I would advice the same.

it really, truly is; Advise

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By mwngiol
03rd Mar 2016 11:40

Thank you

Time for change wrote:

mwngiol wrote:

cheekychappy wrote:
I would also seek advice.

I would advice the same.

it really, truly is; Advise

Thank you for your advise.

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02nd Mar 2016 13:07

No longer straight forward

I can do no better than repeat the words of Mary Shoesmith in todays Taxation magazine:

"Identify those who can do something and warn those who cannot .....the first thing to stress is that a broad brush approach will not work. Gone are the days when we could reel off the ‘salary to preserve National Insurance benefits then dividends thereafter’ statement. Understanding the interaction with clients’ other income and allowances is crucial and each case will need to be reviewed on its facts."

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