Professional tax advice - How much tax will I pay with my limited company?
You may be able to reduce your higher rate personal tax by retaining funds in your company
There is no further personal tax if your total income, including company dividends, is below 2009/10 £43,875. You may own the company jointly and equally with your spouse in which case this figure is doubled by applying to both of you.
If you are in higher rates of tax, further personal tax is payable at 22.5% of the gross dividend but only of the amount falling into the higher rate band.
Wealth warning: this will not apply where company profits arise from a contract caught by HM Revenue & Customs IR35 regulations. See Employment status - IR35
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