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Seeking salary advice

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    Seeking salary advice

    Hi all,

    I am hoping to gain some advice on my salary/dividends.

    This financial year apr 2011 - apr 2012 I have had 2 PAYE jobs for a total of 5 months. I have just started contracting in October and setup my own limited company.

    I have earnt over the tax free allowance.

    I wanted to ask for advice on whether I should pay myself a minimum wage salary upto April 2012 or just take dividends upto April 2012

    OR

    Is there a better way to reduce my tax bills?

    Thanks

    P.s I am not interested in offshore structures or loan structures thanks.

    #2
    There have been a couple of questions about this recently, I believe Psychocandy started a thread on this plus a few others. I think the outcome was not to pay any more PAYE and just do dividends.

    Try having a search using the <keywords> site:forums.contractoruk.com/accounting-legal/ to see if you can find them.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

    Comment


      #3
      Here you go, something to read for a starter for 10..

      http://forums.contractoruk.com/accou...-yourself.html

      http://forums.contractoruk.com/accou...-much-tax.html

      http://forums.contractoruk.com/accou...gh-tax-yr.html

      http://forums.contractoruk.com/accou...scal-year.html

      Not read them all so DYOR of course

      Search I used was

      PAYE permie site:forums.contractoruk.com/accounting-legal/ - Google Search
      'CUK forum personality of 2011 - Winner - Yes really!!!!

      Comment


        #4
        Normal service will resume 8:00 25/2/12.

        Thank you for your questions.

        "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
        - Voltaire/Benjamin Franklin/Anne Frank...

        Comment


          #5
          Super, thanks guys!

          Comment


            #6
            Just take the dividends until the new tax year.

            Comment

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