Hi
I know that this has probably been covered multiple times, but I am getting confused by everyones "hypotheticals" so thought I would ask.
I am looking at reducing my corp tax bill.
Wife currently works as a Teachers Assistant, but is getting fed up with the school so is happy to leave as she gets paid not very much anyway.
She is already a shareholder (50%) so eligible for dividends, but that obviously comes out after corp tax.
Am new to all this so its all a complete maze to me, and the accountant doesnt seem to be very proactive!
cheers
I know that this has probably been covered multiple times, but I am getting confused by everyones "hypotheticals" so thought I would ask.
I am looking at reducing my corp tax bill.
Wife currently works as a Teachers Assistant, but is getting fed up with the school so is happy to leave as she gets paid not very much anyway.
- If I "employed" her, to do invoicing, business development etc, would it be worth it?
- How much could I pay her, considering it would be effectively part time work.
- Do I have to pay a private pension (or is that a good thing to reduce the annual profit?).
- What other things do I have to consider in this sort of arrangement?
- What is the most tax efficient way of doing this?
She is already a shareholder (50%) so eligible for dividends, but that obviously comes out after corp tax.
Am new to all this so its all a complete maze to me, and the accountant doesnt seem to be very proactive!
cheers
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