Quick dividend question.
Discussion
Quick question for Eric or someone accountingwise to double check what I am thinking is correct.
My Ltd co has made modest profits over the last two accounting years of less than 10k each time. The first accounting year was in the 0% corp tax bracket, the second was in the 19% one.
Corporation tax has been paid and is up to date and the profits retained.
My question is are all the taxes now paid to release this as a dividend including my personal tax liability?
(I know there is something about vouchers and credits and a convoluted way of equaling everything out, but I just wanted to check...!)
My Ltd co has made modest profits over the last two accounting years of less than 10k each time. The first accounting year was in the 0% corp tax bracket, the second was in the 19% one.
Corporation tax has been paid and is up to date and the profits retained.
My question is are all the taxes now paid to release this as a dividend including my personal tax liability?
(I know there is something about vouchers and credits and a convoluted way of equaling everything out, but I just wanted to check...!)
The company has no more tax to pay.
However, depending on your personal income in any given tax year, there could be a Self Assessment income tax liability arising on dividend income received by you if your personal income from all soources took you above the higher rate income tax threshold.
However, depending on your personal income in any given tax year, there could be a Self Assessment income tax liability arising on dividend income received by you if your personal income from all soources took you above the higher rate income tax threshold.
Edited by Eric Mc on Friday 24th October 17:57
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