Paying dividends the tax-efficient way

When your limited company makes a profit, you can choose to pay a percentage of that profit to your shareholders. This is known as a dividend payment and is one of the most common ways for directors and shareholders to extract cash from a successful business. But did you know that the dividends you receive are taxed separately...

Read more

Dividend thresholds for 2021/2022

On 6 April 2021 the tax-free allowance for dividends remains the same at £2,000.  However, the personal allowance will increase to £12,570. The dividend allowance is in addition to your personal allowance. There are no dividend tax credits anymore.  All dividends are deemed to have been paid gross. The standard rate of tax on dividends is 7.5%. Dividend...

Read more

Accountants247 Urmston

Accountants247 provide cost-effective, high value solutions to meet every clients needs regardless of the size of their business.