Later this year I'll be finishing my current contract & heading off for maternity. After that, we're thinking of me not going back to work
The problem is (but a nice problem), I have quite a bit in my business account.
As far as I'm aware -I've never looked into it but can't imagine I'm eligible -I'd get no benefits from choosing to be a SAHM, so I wouldn't be losing anything if I continued to be employed by the ltd company.
Would it be considered wrong to run it for a couple of years, paying myself monthly & a nice, little from April this year, dividend each year whilst the company has no income? The tax man would end up owing me a tax refund each year as there would be expenses but nothing to offset it against...
From what I can work out it's the most tax efficient way.
Any thoughts/comments/jibes?
Thanks
The problem is (but a nice problem), I have quite a bit in my business account.
As far as I'm aware -I've never looked into it but can't imagine I'm eligible -I'd get no benefits from choosing to be a SAHM, so I wouldn't be losing anything if I continued to be employed by the ltd company.
Would it be considered wrong to run it for a couple of years, paying myself monthly & a nice, little from April this year, dividend each year whilst the company has no income? The tax man would end up owing me a tax refund each year as there would be expenses but nothing to offset it against...
From what I can work out it's the most tax efficient way.
Any thoughts/comments/jibes?
Thanks
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