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Do I have to pay tax on dividends?

Reason123 · 2017-01-16 12:29:15

Hi I am in full time employment and do hit the 40% tax bracket. I have a youtube channel as a side business and I set up a LTD company and the funds get paid into a business account. I pay corperation tax on the profits with whats left over I take a monthly dividend. I believe I can take up to £5000 per year before paying…

Comments

TheCyclingProgrammer Posts: 3,702 Forumite

23 January 2017 at 1:16PM

Okrib wrote: »

Thanks for the reply. The shares are ordinary shares, and carry voting rights as well as a dividend payment and the right to payout should the company be wound up. The transfers are done once the dividend payout is known and registered with the company secretary along with the relevant forms etc.

Then you should be covered by the spouse exemption.

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