New to this so apologies if my questions are a bit obvious.
If you pay yourself a minimum salary and a chunk of dividends to keep you in basic 20% tax rate..... what happens to the 'pot' of money left in the Ltd company? after a period of a few years this would have built up, how can i get it out of the business?
I found this article: Optimum Directors Salary and Dividends 2017/18 - JF Financial : Online Accountants
Im a little confused at their examples, why is there no mention of corporation tax deduction on profits? I thought this was required before dividend could be paid out?
If you pay yourself a minimum salary and a chunk of dividends to keep you in basic 20% tax rate..... what happens to the 'pot' of money left in the Ltd company? after a period of a few years this would have built up, how can i get it out of the business?
I found this article: Optimum Directors Salary and Dividends 2017/18 - JF Financial : Online Accountants
Im a little confused at their examples, why is there no mention of corporation tax deduction on profits? I thought this was required before dividend could be paid out?
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