PAYE/DRAWINGS or Dividend
I wanted a second opinion on a director who launched his buisness has a limited company in May 2012.
He wants to know if he should pay himsleg via the PAYE or Drawings or Dividend.
As he will be paying Coporation Tax on his Profits I would avoid paying 40% tax on your pay via PAYE.
Therefore would it be best for drawings or dividend payments and what advantages is one over the other.
Your answers please.
- Software recommendations? 285 4
- Goodie bag 118 2
- Budget 2015 predictions 188 5
- Husband Wife let property 138 2
- Lack of Quickbooks Online Coverage 440 8
- Career in Practice 122 2
- Relevant life plan 344 8
- Limited Company expenses 377 8
- Physiotherapy And Vat 195 6
- Telemarketing 163 4
- 6th March RTI deadline. Can FPS be submitted on 6th March? 157 1
- Awkward shareholder (sister) 143 1
- New tax codes for ex-employees 181 3
- how to value rental space 104 3
- Directors loan - no longer a director 331 4
- NHS PENSIONS XFER ABROAD 70 1
- We contribute a percentage of employees' salaries to a pension scheme set up by them - do we need to get involved in auto-enrolment? 464 5
- Output tax for retailer 265 6
- Partnership Tax Return £100 penalty-was a tax return due in this case? 451 11
- Failure to operate PAYE 1,938 32
- Possible Partnership? 604
- Tax and accounting treatment on long lease granted from freehold 501
- New Fangled Penalties 410
- Clubs and Taxable Income 332
- Purchase of property freehold - capitalisation of costs 299
- Closed PAYE schemes and auto enrolment 255
- Loans to other companies 244
- Lenovo – Superfish & Komodia – is your PC vulnerable 214
- Charity dissolution and newly merged charity 212
- Outsource Data Entry 211