I would appreciate some help
I have a client who are a family firm. At year-end, the four DLA's had a balance, these total £40878.05, then there were dividends taken of £89804.00. This is how the Directors were paid historically.
However, in previous years the profit has been higher than last year, the 'shareholders funds' total £61774.00
What is the best way to deal with the dividends & DLA accounts? if I run the payroll for the two working Directors, there is a huge amount of PAYE Tax & NI to pay.
Would really appreciate your thoughts