contractor to permie

[ContractingBrit]

Hi all

I have ended my short stint in the world of contracting and taken up a permie role. I want to keep the ltd company running for atleast a couple of months just in case.

Has anyone got any tips - best way to extract the remaining profits in the company bank account or just any tips in general from when moving from contractor back to permie?

[northernladuk]

Hi all

I have ended my short stint in the world of contracting and taken up a permie role. I want to keep the ltd company running for atleast a couple of months just in case.

Has anyone got any tips - best way to extract the remaining profits in the company bank account or just any tips in general from when moving from contractor back to permie?

Yeah, your accountant.

[ContractingBrit]

Yeah, your accountant.

Thanks sherlock!

I want to discuss with people and know about their experiences on the forum, if it is okay with you?

[northernladuk]

Thanks sherlock!

I want to discuss with people and know about their experiences on the forum, if it is okay with you?

Fill yer boots.

[Lance]

Hi all

I have ended my short stint in the world of contracting and taken up a permie role. I want to keep the ltd company running for atleast a couple of months just in case.

Has anyone got any tips - best way to extract the remaining profits in the company bank account or just any tips in general from when moving from contractor back to permie?

You've got today to sort out anything for this tax year.
Tax efficient options for extracting dividends are limited once you receive a larger PAYE salary.
The "best way" depends on lots of factors. IMO the best way is to understand the options at a high level and make your own judgement call.

personally I'd keep my LTD. going until I knew for sure I'd never use it again. But that's me and I know my circumstances.

[zonkkk]

Hi all

I have ended my short stint in the world of contracting and taken up a permie role. I want to keep the ltd company running for atleast a couple of months just in case.

Has anyone got any tips - best way to extract the remaining profits in the company bank account or just any tips in general from when moving from contractor back to permie?

Pay yourself dividends up to higher rate tax threshold, before the 5th of April.

[Lance]

Pay yourself dividends up to higher rate tax threshold, before the 5th of April.

today


tick. tock....

[ContractingBrit]

Thanks for the responses. Yes have maximised the dividends for this year.

For the new tax year, does the salary from permie job count towards dividend threshold?

[GhostofTarbera]

Thanks for the responses. Yes have maximised the dividends for this year.

For the new tax year, does the salary from permie job count towards dividend threshold?

Lol - yes


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[LondonManc]

Thanks for the responses. Yes have maximised the dividends for this year.

For the new tax year, does the salary from permie job count towards dividend threshold?

As grim as NLUK can be, he's absolutely right. Your accountant is paid to help you with your individual circumstances.