As requested by many clients, we are pleased to provide tax efficient optimum level of dividend and salary for the tax year 2019/20 (1 April 2019 to 31 March 2020).Please see the figures below. These are for each director/shareholder:
Gross salary £8,580
Dividends £41,420
Total Gross income £50.000
Tax on dividends £2663
Assumptions:
- Your only source of income is your salary and dividends from your limited company
- You have the standard personal allowance available which is £12,500
- You are a UK resident taxpayer with a standard personal allowance
- Most importantly, your company has sufficient post-tax profits to support these dividends
If you would like any further information, please contact Southside Accountants in Wimbledon.
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