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Wife is shareholder - Tax implications

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    Wife is shareholder - Tax implications

    Hi all

    Can you help please?

    I have put my wife down as a shareholder and I pay her dividends.

    Her salary from her occupation plus dividends falls below the upper tax limit.

    Does she need to do a self assessment return each year?


    Thanks for your help.

    #2
    Maybe -

    HM Revenue & Customs: Do you need to complete a tax return?

    If you don't already complete a tax return, you'll need to do so if you receive any of the following:
    £10,000 or more income from savings and investments
    "You’re just a bad memory who doesn’t know when to go away" JR

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      #3
      Are you not playing with fire a little distributing your money without knowing the basics? An account could save you alot of time and possibly money in the future.
      'CUK forum personality of 2011 - Winner - Yes really!!!!

      Comment


        #4
        Originally posted by happydays View Post
        Hi all

        Can you help please?

        I have put my wife down as a shareholder and I pay her dividends.

        Her salary from her occupation plus dividends falls below the upper tax limit.

        Does she need to do a self assessment return each year?


        Thanks for your help.
        Technically probably not if she has no liability, but HMRC may send her a return anyway. Often it's easier to just file one anyway, saves any hassle at a later date.

        Your accountant can advise you fully, along with giving advice on the best income structure for both of you.
        ContractorUK Best Forum Adviser 2013

        Comment


          #5
          Originally posted by northernladuk View Post
          Are you not playing with fire a little distributing your money without knowing the basics? An accountant could save you alot of time and possibly money in the future.
          Let me fix that for you

          Comment


            #6
            Originally posted by JamJarST View Post
            Let me fix that for you
            You, sir, are a gentleman!!

            Heaven forbid I would leave a post on here that made me look like an idiot!!
            'CUK forum personality of 2011 - Winner - Yes really!!!!

            Comment


              #7
              Accountants are an arse... I am still in search for a nirvana account software for idiots.

              Comment

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