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What do I need to declare?
annie12
Posts: 790 Forumite
My husband is self employed and we are both directors of the company and receive dividends 50% each.
I do not receive a wage from the company.
I receive ESA, DLA and a pension from my previous employer.
I am taxed on my pension and ESA.
Do I need to declare the dividend which is taxed at 10% before I receive it?
I do not receive a wage from the company.
I receive ESA, DLA and a pension from my previous employer.
I am taxed on my pension and ESA.
Do I need to declare the dividend which is taxed at 10% before I receive it?
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Comments
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My husband is self employed and we are both directors of the company and receive dividends 50% each.
I do not receive a wage from the company.
I receive ESA, DLA and a pension from my previous employer.
I am taxed on my pension and ESA.
Do I need to declare the dividend which is taxed at 10% before I receive it?
As a company director, you will need to complete a self assessment/tax return0 -
Your husband is either s director of a company or self employed. He can't be both.Eat vegetables and fear no creditors, rather than eat duck and hide.0
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Your husband is either s director of a company or self employed. He can't be both.
Technically, he could be - just not for the same business.
Although, I imagine that the OP is probably incorrectly using the term "self-employed".
She also incorrectly says that they receive dividends as they are directors - it is shareholders receive dividends not directors. A director does not have to be a shareholder.0 -
Technically, he could be - just not for the same business.
Although, I imagine that the OP is probably incorrectly using the term "self-employed".
She also incorrectly says that they receive dividends as they are directors - it is shareholders receive dividends not directors. A director does not have to be a shareholder.
You are correct in everything!
His company is a ltd company and he is the employee of the ltd co.
So, I have never completed a tax return, never been asked.
Hubby's accountant files his personal tax return.
Do I need to do one?0 -
You are correct in everything!
His company is a ltd company and he is the employee of the ltd co.
So, I have never completed a tax return, never been asked.
Hubby's accountant files his personal tax return.
Do I need to do one?
As you are a director then you should be automatically (I think - check with the accountant to be sure as I was already receiving a form when I set my company up) getting a self-assessment form and will need to complete it, including the dividends.
You won't be taxed on the dividends unless they put you into the higher-rate as the 10% tax credit covers basic rate payers.0 -
You are correct in everything!
His company is a ltd company and he is the employee of the ltd co.
So, I have never completed a tax return, never been asked.
Hubby's accountant files his personal tax return.
Do I need to do one?
You're a company director, so HMRC say you do.
http://www.hmrc.gov.uk/sa/need-tax-return.htm0
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