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[Putting this out late in the tax year (we are in August!) because so many new businesses are being started post COVID-19 lockdown.] Most tax efficient salary for directors in 2020/21 is £8,788 per annum. This equates to £732 per month or £169 per week. You may top up with dividends. HOW IS THE TAX … Continue reading
[Thanks to the ACCA – http://www.icaew.com/en/archive/members/practice-resources/icaew-practice-support/practicewire/news/dealing-with-dividends%5D The accounting and disclosure of dividends can seem simple but beware of falling foul of the technical complexities. When to provide for a dividend If a dividend is paid in the year then, as long as there are distributable reserves (see below), there is little to debate in terms … Continue reading
Phoenix Debola 