Recent content by finlamit

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    Being a company director as a second job

    That is something I have not considered, thanks for bringing to my attention. The service I provide doesn't require a large amount (if any) of cash in the bank. So thought might as well take as much of the profits as I can.
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    Being a company director as a second job

    Thank you for your response. So would it be better for me to take it mostly as PAYE, therfore limiting my CT bill and paying 40% PAYE, or taking it all as dividends (So 19% on CT and 33.75% on dividend tax)?
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    Being a company director as a second job

    Thanks Just wondering how you came to the figure £750? I already have a full time job on £60k so I wouldn't need to for any other reason than tax purposes. Trying to weigh up: 19% on profits (CT), then 33.75% dividend tax VS Taken mostly as salary (Tax deductible so smaller CT) and 40% on...
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    Being a company director as a second job

    Thanks. Not yet, but will do. Trying to gain a basic understanding before I engage someone. I was just wondering, as dividends are not tax deductible, the company will pay 19% CT, and then I will pay 33.75% myself (over the £1000 tax free allowance). Would it not be better to take as salary...
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    Being a company director as a second job

    Hi everyone, need a bit of guidance here. I have a main job in which I earn £60k pa. I have recently set up a business. What would be the most tax efficient way of paying myself from my business? Lets say, to make it easy, I make £10k in profit in my first year. It's a tricky one for me to...
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    Dividend tax amount if earning from another Job

    Hi all I have a full time job which I am earning £55,000 per year. My employer has kindly allowed me to freelance at weekends in which I have setup a limited company (as is required for a lot of freelance contracts I take on). Quick question. If I pay myself in dividends from my limited...
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    Client has paid into personal bank account

    I am using Zoho Books to keep track of everything. Thanks for your help. M
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    Client has paid into personal bank account

    Hi everyone I have recently formed a limited company from being a sole trader. I have now opened a business bank account (To make it easier for accounting... he says!) I have a client in which used to pay into my personal bank. Since forming the company I have sent him an email and placed in...
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