Adding my wife halfway trough the Financial Year

[retyfraser]

hi - Given the dividend tax changes in 2016, and the fact that my wife just quit her job ( last month). I've exhausted my share of Dividends withdrawal this year.

Since dividends are always to be declared to all the share holders - Adding my wife now, can i take dividends in her name ?

How does this work ?

[SlipTheJab]

hi - Given the dividend tax changes in 2016, and the fact that my wife just quit her job ( last month). I've exhausted my share of Dividends withdrawal this year.

Since dividends are always to be declared to all the share holders - Adding my wife now, can i take dividends in her name ?

How does this work ?

Accountant?

[chopper]

hi - Given the dividend tax changes in 2016, and the fact that my wife just quit her job ( last month). I've exhausted my share of Dividends withdrawal this year.

Since dividends are always to be declared to all the share holders - Adding my wife now, can i take dividends in her name ?

How does this work ?

You can't retrospectively issue her with dividends, so if you gave her 50% of the shares now, then she'd be entitled to 50% of the dividend issued from today. Which I assume would then take you above the tax efficient dividend withdrawal amounts advised by your accountant. If you need more cash, you'll have to take the tax hit.

[northernladuk]

Don't do it if this is just temporary though. You'll be making a target for yourself if you are changing your shareholding too often.

[FatLazyContractor]

Wife - Takes your dividends after marriage and the rest after divorce

HTH
BP

[Troll]

Consensus amongst the divorced Contracting community that I have worked with is to never let the missus anywhere near the company, & certainly no access to the company bank accounts

But they all may have a slightly biased view


HTH

[FatLazyContractor]

Consensus amongst the divorced Contracting community that I have worked with is to never let the missus anywhere near the company, & certainly no access to the company bank accounts

But they all may have a slightly biased view

Have you lost your mind?!

Since when has truth become a "biased view" ?

[VectraMan]

Better yet get divorced now. It'll save time later on.

[SimonMac]

hi - Given the dividend tax changes in 2016, and the fact that my wife just quit her job ( last month). I've exhausted my share of Dividends withdrawal this year.

Since dividends are always to be declared to all the share holders - Adding my wife now, can i take dividends in her name ?

How does this work ?

NO!

Any dividend in her name is her money not yours.

Also if you add her now you would still need to pay yourself any dividend at the corresponding rate.

[TheFaQQer]

I've exhausted my share of Dividends withdrawal this year.

You've depleted all profit and cannot pay any more dividends? I'd be worried if I was in that position.