Hi all
I'm considering taking a FTC role for a year. In the meantime, I also have money in my limited company (from contracting). Assuming I took a dividend this year to top up my earnings, how would the self assessment calculation work for Jan 2022 (or even Jan 2023)?
The proposed salary is 75k p.a, and I am considering a dividend of 20k (this year). I am also thinking of pausing my salary payment from the LTD company (just to simplify the structure this year as I imagine that would make the calculation even more complex).
Would I just pay 7.5% on 18k (assuming the first 2k is free), or is it a more complex calculation given that I am also working as a permie (effectively)
Any advice would be highly appreciated! Can't seem to get a decent answer online.
TIA
I'm considering taking a FTC role for a year. In the meantime, I also have money in my limited company (from contracting). Assuming I took a dividend this year to top up my earnings, how would the self assessment calculation work for Jan 2022 (or even Jan 2023)?
The proposed salary is 75k p.a, and I am considering a dividend of 20k (this year). I am also thinking of pausing my salary payment from the LTD company (just to simplify the structure this year as I imagine that would make the calculation even more complex).
Would I just pay 7.5% on 18k (assuming the first 2k is free), or is it a more complex calculation given that I am also working as a permie (effectively)
Any advice would be highly appreciated! Can't seem to get a decent answer online.
TIA
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