salary levels Archives - Whitefield Tax Limited - Isle of Wight Accountants

Salary or dividend? The impact of new tax legislation relating to dividend income on owners of SMEs.

by Jessica Garbett | Nov 12, 2015 | ACCA, business taxation, dividends, salary levels

The impact of new tax legislation relating to dividend income on owners of SMEs. Until now the most business efficient way of extracting company profits by its director-shareholder was to draw a minimal salary and have the cashflow flexibility to draw dividends...

2014-15 salary and dividend levels

by Jessica Garbett | Mar 11, 2014 | administration, PSC, psc guide, salary levels

For our PSC clients: ~ recommended main contractor salary £12,000 pa (£1,000 per month) ~ recommended spouse / company secretary salary where no other income £7,920 pa (£660 per month) ~ for a 100% shareholder on £12,000 salary, maximum basic rate dividend is £26,878...

A client query regarding tax on interaction of business and personal tax

by Jessica Garbett | Nov 21, 2013 | business taxation, personal finance, personal taxatation, salary levels

A client query regarding tax on interaction of business and personal tax: Still don’t understand this. I want to see it only from a personal not Ltd perspective. I can earn £9,440 and pay no taxes If I earn more than £9,440 I will have to pay taxes I can...

PA Holdings – appeal withdrawn

by Jessica Garbett | Apr 12, 2013 | IR35, PSC, salary levels

HMRC have posted on their website this week that PA Holdings have withdrawn their appeal against the latest court decision against them – i.e. PAH have accepted HMRCs views. The case concerns whether dividends are employee income or not, and inevitably gives...

Statutory Maternity Pay and small company directors

by Jessica Garbett | Oct 2, 2012 | PSC, salary levels

A query from a client: I am about to go on maternity leave and need some advise in terms of paying myself a bonus to increase my SMP. Our reply: Alas, its a nice idea but probably not worth it. I’ve just done some quick figures. I’ve assumed you are...

2011/12 payroll year end and 2012/13 salary recommendation

by Jessica Garbett | Feb 29, 2012 | employer returns, personal taxatation, salary levels

For those company directors with a salary just below the NI limits, we recommended a salary of £589 per month in 2011/12. For the coming year, unless we advise you separately, this is increasing to £620 per month. We will shortly be finalising the end of year...

« Older Entries

Salary or dividend? The impact of new tax legislation relating to dividend income on owners of SMEs.

2014-15 salary and dividend levels

A client query regarding tax on interaction of business and personal tax

PA Holdings – appeal withdrawn

Statutory Maternity Pay and small company directors

2011/12 payroll year end and 2012/13 salary recommendation

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