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
Replies (10)
Please login or register to join the discussion.
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.
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.
Typo Police
I would also seek advice.I would advice the same.
it really, truly is; Advise
Thank you
I would also seek advice.I would advice the same.
it really, truly is; Advise
Thank you for your advise.
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."