@defence_solicitors: It is possible to pay less than £6,500 in taxes per YEAR, while earning over £100,000 per annum. Follow these guidelines to avoid losing most of your money to the taxman - all while legally keeping your money in your bank account, where it belongs. Follow us for more tips on saving your money. NOTE: This post is not an A-Z guide on all tax-saving scenarios. It is. Helpful top those who work illegally; they can legally save on taxes. A ckmpetent tax advisor’s advice should be sought. Please call an accountant for clarification and a discussion that pertains to your unique financial situation. This post relared to INCOME tax, which is owed by the person, not on CORPORATION tax which is the company’s responsibility. With this post in particular, a few assumptions have been made, namely: - that you dont jave any other source of income. - you are not dealing with any IR35 issues. - your company is profitable. - you are legally compliant with statutory and fiduciary obligations placed on the directors. #uklaw #law #explorepage #explore #foryoupage #fyp #solicitors #lawyers #defencelaw #criminallaw #taxlaw #taxes #moneysavingtips #savemoney #financetips #financialtips #tipstosavemoney #taxtips #carousel #trending #stuartmillersolicitors
Stuart Miller Solicitors
Region: GB
Friday 15 September 2023 16:17:09 GMT
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SXC Glo :
Corporation tax, VAT, national insurance will take a big chunk of that but on a serious note more content like this ✅
2023-09-16 10:29:11
2
S🌹O🌹H🌹A🌹I🌹L :
what about corporation tax?
2023-09-15 23:51:03
1
Alex Philip Ecom :
You have to pay 25% corp tax on profits before you can pay dividends lol
2023-09-16 18:23:11
0
Bigape :
Don’t forget corp tax
2023-09-15 17:12:58
201
mason :
Forgot corp tax, and also makes more sense to pay yourself ~£9900 because you don't incur any NI owed but still makes you eligible for state pension
2023-09-15 20:51:29
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Ccccjjjjj7777 :
Definition of don’t know don’t say, which is surprising for a solicitors. Haven’t even considered IR35, £12570 is not tax free (Employers NI tax),
2023-09-15 18:39:52
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Jithugpark :
You get £2000 dividend allowance which tax free so that would be £4000 between spouses before the dividend tax applies
2023-09-15 20:25:19
28
Jackson Yuen493 :
First your company needs to have revenue exceeding 100k, that means you are probably subject to VAT.
2023-09-15 23:08:31
17
Ccccjjjjj7777 :
@Ccccjjjjj7777: Partner must have no other income and you’ll pay Corporation Tax at £13’843 in order to achieve that amount of dividends.
2023-09-15 18:42:57
9
Dan Os3395 :
Then you have to get income for your company 😂
2023-09-15 20:43:09
8
boringlehman :
Corporation tax and vat due as over 80k
2023-09-15 23:18:08
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user5915796439120 :
You forgot the £14k of corporation tax
2023-09-15 22:12:41
3
Big Ken :
What about VAT?
2023-09-16 11:03:59
2
Mark Hudson :
You forgot to mention the corporation tax on £75k profit you would need to enable the dividends - another £17k tax 😳
2023-09-16 10:19:29
2
The reluctant tiktoker :
Why is a solicitor trying to give tax advice (and botching it unsurprisingly)?
2023-09-16 09:28:17
2
5ktha :
Stuart Miller Solicitors need to up date this incomplete picture and reflect total taxes! CT+ NIC ERs + IT. PA availability & IR35 implications!
2023-09-16 07:37:48
2
Gareth Jones :
if you have a ltd company and also have 9-5 job with someone else ? what happens then ? thank you
2023-09-16 06:53:01
2
St10._ :
Still ignoring the corp tax to be able to take dividend… v misleading
2023-09-15 22:32:54
2
joshuagriffins87 :
but if u work for a company they pay directly into ur bank so no way doing this strat
2023-09-15 21:38:47
2
harry :
🤣🤣🤣🤣 what are u on
2023-09-15 18:56:51
2
Ross Feetfeetfeet :
Ignore the fact that you need to have profits after tax to cover the dividends but yeah great plan!
2023-09-18 10:00:34
1
AmeyaSangle :
@Aarsh Amin
2023-09-16 07:48:12
1
Vlad :
How can I get my e
2023-09-15 23:02:02
1
Moriz :
Corp tax for 25%
2023-09-15 21:53:27
1
WolfOfWalsall :
IR35 means you’ll just be pursued by back tax by HMRC for the amount you would’ve paid in income tax.
2023-09-15 21:35:13
1
procuroak :
Forgot the 25k Corp tax on the 125k profit, then you have 100k left for dividends. So really it's 31375 tax on 125k.
2023-09-15 21:30:15
1
Userqueenelizabeth :
This TikTok is on the wrong fyp 😀
2023-09-15 21:16:50
1
Buddy & Bone :
Also, tax benifits only apply if your partner doesn’t have another job. You’re really a solicitor? 😂
2023-09-15 20:34:52
1
Dany Boy Gemi :
I earn over 20K in 9month under umbrella self employer and paid 43% Income Tax! MADNESS
2023-10-05 06:13:24
0
user20903941743 :
or just don’t pay yourself a penny reinvest the money back into the business so then you can buy assets after borrow money against the company
2023-09-26 16:16:40
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fuckoffnachui :
What is retard accounting?
2023-09-26 10:54:49
0
276272728 :
TOTAL MISGUIDANCE😂
2023-09-25 22:55:29
0
T Finance 🇬🇧🇳🇬 :
This has assumed your partner is jobless
2023-09-25 18:44:25
0
Joe :
@JP
2023-09-21 18:11:24
0
susanphillips277 :
wrong it wasn't YOU but two people!
2023-09-20 22:02:17
0
Tom Sal :
Higher rate tax band is 32.5%
2023-09-19 19:33:47
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Chris CH :
Dividend nil rate band is £2k not £1k
2023-09-19 18:14:52
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The Wealth Wise :
unfortunately we are already earning income so any additional company income would be taxed. should I not be borrowing all this money tax free instead
2023-09-19 15:35:08
0
user2826481852189 :
criminal solicitors shouldn't be giving out tax advice
2023-09-18 17:10:48
0
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