In this article, we give you an overview of the basics of limited company tax as written by the senior accountant from Dolan Accountancy. This includes the various taxes you will be liable to pay (or collect) as a limited company, and when you have to pay them.
dividend tax
Salary aside, most limited company directors (and shareholders) typically draw down most of their income in the form of dividends. Dividends are distributed by companies of all types in order to return a proportion of company profits back to their shareholders. Here we look at what are company dividends and how to calculate them.
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Readers question: As a director of my Limited Company, the majority of my income comes from my contracts, plus my properties and land. Can I still take a £2,000 dividend tax-free regardless of my other earnings which take me to the 40% threshold?
Here are the main small business tax rates and allowances for the tax year of 2018/19.
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Here are the main tax rates and allowances for 2017/18, that are most relevant to small businesses.
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When a limited company makes a dividend distribution, all shareholders should be given a dividend voucher, which can be in either paper or electronic form.
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The press coverage of the current outcry over public sector figures working via their own personal service companies has resulted in many inaccurate tax claims being made by the media.
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If your limited company makes a dividend declaration, you must record the fact in the company records, and in most cases provide each shareholder with a dividend voucher.
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