Seeking salary advice Seeking salary advice
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  1. #1

    Still gathering requirements...


    Join Date
    Feb 2007
    Posts
    94

    Default 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. #2

    My post count is Majestic

    northernladuk's Avatar
    Join Date
    Mar 2009
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    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!!!!

  3. #3

  4. #4

    Some things in Moderation

    cojak's Avatar
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    Jul 2005
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    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...

  5. #5

    Still gathering requirements...


    Join Date
    Feb 2007
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    Super, thanks guys!

  6. #6

    Contractor Among Contractors


    Join Date
    Feb 2010
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    1,931

    Default

    Just take the dividends until the new tax year.

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