With the end of the tax year just a few weeks away you might be planning to draw extra salary or dividends from your company to maximise tax efficiency. What steps must you take to ensure payment
falls in the right tax year?
Published 04.03.2019
The Taxman may challenge dividends not properly declared and paid in accordance with company law formalities. However, there is a way to sidestep most of his arguments. So what do you need to do?
Published 18.01.2007
Your accountant is finishing work on your company’s accounts. He suggests paying a dividend to cover payments your company made last tax year which will otherwise be taxed as benefits in kind. Will
this cause trouble with HMRC?
Published 13.06.2018
Just before the end of the tax year you drew some cash from your company’s bank account for personal use. Now we’re in another tax year you intend to treat the payment as a dividend. When will you
have to pay tax on it?
Published 26.11.2018
You’re one of three directors of a company which usually pays dividends once a year but one of the directors needs the money urgently. The trouble is that two of the directors are out of the UK, so
how can a dividend legally be paid?
Published 08.07.2019
The end of the tax year is approaching and you want to make full use of the 8.75% tax rate that applies to dividends. How can you work out how much dividend you can take and ensure its payment before
the tax year ends?
Published 20.02.2024
HMRC makes a big issue in its instruction manuals about the difference between interim and final dividends. But in practice does it really matter and should you be taking steps to amend your
procedures?
Published 05.09.2013
Overdrawing your director’s loan account can land both you and your company with a tax bill. A common way of dodging this is to pay a dividend after the end of the financial year, but this won’t work
in every case. Is there a better option?
Published 25.01.2012
While there’s a hint of light at the end of the lockdown tunnel, business will take a while to recover. In the meantime you’re taking minimal income from your company, but should you consider
increasing this to maximise tax efficiency?
Published 13.05.2020
As a general rule, dividends are the most tax efficient way to get income out of your company. But these can only be paid where you’re making a profit. So what will the Taxman say if you pay
dividends from a loss-making company?
Published 29.11.2012