Query for sole trader / consultant / tax types

Scenario:

Set up Ltd Co
Charge clients one meeeeeelion dollars.
Cover overheads
Pay self basic salary & NICs
Pay spouse market rate salary & NICs & auto-enrolment
Pay HMRC corporation tax
Distribute balance of profits as dividends to self & spouse

What am I missing? [On the tax front, so apart from clients actually paying]

Is there a salary sweet spot for when paying yourself dividends is more tax efficient than salary? [Or are there any online tools for crunching these sorts of numbers? My spreadsheet skillz are weak]

(Asking for a friend.)

Posted By: CWC, May 19, 15:05:41

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