I hope not, as you only pay yourself a minimum salary plus dividends to avoid paying as much tax as someone on PAYE. You reap what you sow.
I certainly hope so.Maybe they would include 80% of the average dividends as well, or is it only salary?
I am a director of my own limited company and pay myself a minimum salary (£719 a month) and top up with dividends. My business has stopped overnight. Can i claim anything?
Yes that’s rightI really can't see HMRC including dividends, the minimum salary is used to keep NI payments down - it's a choice most make when running a one-man limited company but people have to accept that they may lose out in the current circumstances.
Errr ?Totally understand the immense pressure the goverment is under and hopefully they will give clarity , we are fighting a killer disease and we all need to be together
As a self-employed worker i have to agree.I hope not, as you only pay yourself a minimum salary plus dividends to avoid paying as much tax as someone on PAYE. You reap what you sow.
Yes I used to run such a company as a freelancer - just checked an old set of accounts, I roughly calculate that HMRC would have been about £6k worse off that year had I been a salaried employee on the average pay for the job at the time.Yes that’s right
However we pay corporation tax
No entitlement to holiday pay, sick pay or a workplace pension, death in service etc etc, so all that needs to taken into consideration
I certainly hope so.
Tax avoidance should be getting its come uppance at last, legal or not.
I hope not, as you only pay yourself a minimum salary plus dividends to avoid paying as much tax as someone on PAYE. You reap what you sow.