Taking dividends next year Taking dividends next year
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  1. #1

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    Default Taking dividends next year

    As I am not taking any dividends next year because the communist HMRC have forced me to be an employee. I will not be taking any more dividends in the 32% tax bracket this year, instead. I will wait until April and then take them at 7%, as my income will be stolen before I receive it next year, I will not be taking any new dividends. Should save a few £1000 in tax. I'd rather burn the money than give it to HMRC.
    Last edited by PeterSim; 10th February 2020 at 10:12.

  2. #2

    bored now

    eek's Avatar
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    Except the 1st £2k of dividends how are you going to avoid paying tax at 32% while working under PAYE?
    merely at clientco for the entertainment

  3. #3

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    Oh that is true. They calculate the dividends after salary right? *sigh*

  4. #4

    My post count is Majestic

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    Cool story bro.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

  5. #5

    Double Godlike!


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    The greatest trick the devil ever pulled was convincing the world that he didn't exist

  6. #6

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    Thought I had the thieves there, I was wrong

  7. #7

    bored now

    eek's Avatar
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    Quote Originally Posted by PeterSim View Post
    Thought I had the thieves there, I was wrong
    HMRC are doing their job - as I said before your anger is getting in the way of sane thinking. Take a break from CUK
    merely at clientco for the entertainment

  8. #8

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    I am a libertarian, i have always thought that taxation is theft, even before I started contracting. But now I think it even more so. If you want me to stop posting here, then I can do that. No problem.

    Taxation as theft - Wikipedia

  9. #9

    Fingers like lightning

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    A spouse on the board could take dividends if they are not working, surely?

  10. #10

    Nice But Dim

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    Quote Originally Posted by TwoWolves View Post
    A spouse on the board could take dividends if they are not working, surely?
    They could, but you would have to change the share allocation and issue different types of shares i.e. Alphabet Shares. If the only reason you do this is to avoid paying tax HMRC will take a dim view.
    "Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.

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