@mitchthetaxman: What to pay yourself as a company directir in 2024 Salary & dividend combination resulting in optimum tax position #companydirector #smallbusinessowner #tax #fyp #salary #dividend

Mitch The Tax Man
Mitch The Tax Man
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Region: GB
Friday 15 December 2023 12:00:56 GMT
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alangsmyth
Alan Smyth :
This loophole needs closed! Everyone who works in the UK should pay tax equally and fairly!
2023-12-17 21:45:30
169
lesleyrock452
lesleyrock452 :
Tax avoidance should be a crime
2023-12-16 18:35:52
164
asahowe95
Asa Howe :
So many people on PAYE getting raging 😭😭
2023-12-19 23:18:37
3
user029373456185
user029373456185 :
YEAH THE PROBLEM IS PEOPLE ON BENEFITS
2023-12-20 14:22:23
5
davidbridgen
David Bridgen :
What if I’m buying a house? Will the lender look negatively at a £12k salary with the rest as dividends?
2023-12-16 19:23:48
18
sheikhshamin2
Sheikh Shamin :
Dividends are taxed nowadays 🥲
2024-01-03 04:49:44
5
jackkynaston20
jackkynaston20 :
What about this: I’m currently employed earning 60k / year. I’m also a director of a limited company- what’s the best way to extract money from ltd?
2023-12-15 21:33:21
14
bigdahlski
Big Dahlski :
I’m from the North East. You lost me at “extract 100 thousand pounds” 😬
2023-12-20 13:08:18
5
ralph.groves
Ralph Groves :
am I right in thinking that the company still has to pay corporation tax on the money paid out as dividend?
2023-12-21 06:43:59
5
curliep0lly
Michelle Garner :
Dividend is only available if you make a profit and you can only use 80% of the profits in dividends
2023-12-16 22:03:41
5
poolmrct6tt
Wilson :
Government tax too much
2023-12-16 03:33:21
7
michaelsharp338
michaelsharp338 :
All the PAYE people have no clue. There are reasons you get opportunities for greater tax relief as a business owner or entrepreneur.
2024-01-01 11:00:39
5
shaungrinsted
Unique installations Ltd :
Not true, if your wife/partner works it messes up there tax
2023-12-30 23:18:20
3
larry_pops
King Maker :
All those looking down on small ltd companies trying to survive, do you know how much the big guys get away with in taxes?
2024-01-04 17:33:58
7
agitatedjon
agitatedjon :
Trivial benefits also? X6 £50 monthly non refundable vouchers comes off corp tax doesn’t it?
2023-12-15 17:37:31
5
temitayo87
Timson :
Any recommendations on the best split if you're planning to work a full-time employed role?
2023-12-29 11:46:43
3
drbcompliance
DRBCOMPLIANCE :
Surely spouse has to work in the business too to get remunerated in this way?
2023-12-31 14:26:36
3
michaelsharp338
michaelsharp338 :
All the PAYE people have no clue.
2024-01-01 10:58:57
5
matt1701y
Sydd :
yet another example of how the tax system absolutely screws the worker while rewarding tax avoidance by directors
2023-12-19 00:13:49
24
christine.little
Christine.Little :
Just tax avoidance
2023-12-16 17:27:02
44
asasin101
Oliver :
do that plus any kids over 13 get on child labour, declare any dog experiences under working dog allowances. that's about 130k a year for 7k tax 👌
2023-12-15 18:40:11
7
wellplayedson0
wellplayedson0 :
Yeah, do that….. and hope you don’t need a mortgage….
2023-12-20 14:27:17
3
rs6ncs
rs6ncs :
exactly what I do
2023-12-22 13:01:09
3
silverfalcon333
Craig F445 :
this method can be more efficient if you are more mindful of your NI contributions
2023-12-24 11:53:05
3
mcmucky69
McMiddle_Aged-man :
You didn't mention NI Contributions !
2023-12-16 23:11:43
3
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