Hi everyone
Recently married and want to take the missus into the business so I can miminise tax by paying her divs.
So, been reading up on S660, which seems to try to legislate against this...
Here's my question: is this different if my missus BUYS the shares from my company?
I believe that my company has 1000 shares. Say I value my business at £100K. If my missus was to pay me 30K for 300 shares, then would she be able to accept dividend payments without incurring S660?
Is that possible? Or am i way out!
Many thanks
Lou
Recently married and want to take the missus into the business so I can miminise tax by paying her divs.
So, been reading up on S660, which seems to try to legislate against this...
Here's my question: is this different if my missus BUYS the shares from my company?
I believe that my company has 1000 shares. Say I value my business at £100K. If my missus was to pay me 30K for 300 shares, then would she be able to accept dividend payments without incurring S660?
Is that possible? Or am i way out!
Many thanks
Lou
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