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Home » News & Insights » Terrific Tuesday Tax Tip – Dividends

Terrific Tuesday Tax Tip – Dividends

Posted on 15th January 2021

How to withdraw funds from your organisation – Dividends

This month’s theme for MJB Avanti is How To Withdraw Funds From Your Organisation and this week we will cover Dividends

Dividends are a bonus paid to shareholders (the owners of a company) for doing well.  They should not be regular income, that HMRC could in fact class as payroll.

Dividends can only be taken when there is profit and a positive balance sheet however you should not take dividends if you owe money to HMRC.

They are still a very tax efficient way of withdrawing money from a company the tax charge is lower than PAYE and there is no NI.

MJB Avanti provide a full Payroll Bureau Service and included within that is the legal paperwork you must provide including Dividend Vouchers and Minutes of meeting.  If you know a limited company that needs help with their legal requirements for dividends please ask them to contact me.

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Filed Under: Tax tips

Disclaimer:- The information contained herein is given by way of general guidance only and no action should be taken solely on the basis of the information contained herein. The Avanti Group (UK) Ltd will be pleased to provide further guidance on the issues, and how they might affect you. No liability is accepted by the firm for any action taken without seeking appropriate professional advice

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