5 Legal Ways to Extract Money from Your UK Limited Company
HTML-код
- Опубликовано: 8 сен 2024
- In this comprehensive guide, we'll walk you through the intricate process of extracting money from a limited company. Whether you're a business owner looking to pay yourself or a shareholder seeking dividends, this video covers everything you need to know. We'll discuss key dates you need to keep in mind for tax purposes, explore various tax forms required for different extraction methods, and provide two practical examples to illustrate the process clearly.
Key Dates:
Year-end dates for financial statements
Tax return filing deadlines
Dividend payment dates
Personal tax payment deadlines
Tax Forms:
Form CT600 (Corporation Tax Return)
Form P11D (Expenses and benefits)
Form SA100 (Self-Assessment Tax Return)
Form CT61 (Certificate of tax deducted)
Form DS01 (Striking off application by a company)
Examples:
Dividend Distribution: We'll demonstrate the step-by-step process of declaring dividends, ensuring compliance with legal requirements and tax obligations.
Salary Payments: Learn how to structure salary payments efficiently, taking into account PAYE (Pay As You Earn) tax and National Insurance contributions.
Hashtags:
#LimitedCompany #Taxation #Dividends #BusinessFinance #entrepreneurship
Use our free US/UK tax calculators: www.optimiseac...
Need to file UK or US tax returns? Let us know here www.optimiseac...
Transfer US$ and UK£ without the high commission and fees: www.currencies...
Book UK tax consultations: Use code RUclips15 to get a 15% discount optimiseaccoun...
Get an US & International tax advice - Use code RUclips15 to get a 15% discount: optimiseaccoun...
Get UK / US Property Investment Advice: optimiseaccoun...
US specific support
Open a UK or US bank account: wise.prf.hn/cl...
Apply for an Individual Tax Identification Number (ITIN): www.optimiseac...
File backdated US taxes to the IRS: www.optimiseac...
Get a Cost Segregation study on US Real Estate Property: zjf538.isrefer...
Set up a US LLC company: www.optimiseac...
Set up a US C Corporation: www.optimiseac...
Want reliable UK/US pension advice: planfirstwealt...
UK Specific
Set up a UK limited company: www.optimiseac...
Open a UK business and personal bank account and get £50: www.tide.co/pa...
Get a Stamp Duty (SDLT) refund: www.optimiseac...
Claim Capital Allowances on Furnished Holiday Lets (FHL): www.optimiseac...
#UKlimitedcompany #moneyextract #companyfinances #businessfinance #smallbusiness #entrepreneur #financialadvice #taxplanning #businessgrowth #financialmanagement #companyprofits #moneymanagement #businessstrategy #financialplanning #companyinvestment #businesssuccess #financialfreedom #companycashflow #moneytips #financialgoals
UK Corporation Tax Calculator www.optimiseaccountants.co.uk/what-is-a-uk-property-investment-company/uk-limited-company-corporation-tax-calculator/ Get free property investing education here simonmisiewicz.krtra.com/t/kCpRamw4ujdT Property tax basics guide www.optimiseaccountants.co.uk/types-of-uk-property-tax/
Hey. really good video. so valuable
Thank you that is very much appreciated
excellent info
Thank you, very kind of you 🙏
Btw great content, keep doing the good work
Thank you 🙏 that is very much appreciated
Correct if I am wrong Simon. If I own a limited company and I pay myself a salary of £12,570, then, I would pay 13.25% interest on £3,470 which it would be an expense of £459.775 for the company right? Then, the company will be able to claim back that interest at the end of the year right? Actually, the company, should be able to claim back 19% on £3,470. This should be beneficiary for the company and for the employee who is actually paying some contributions towards the state pension which is good to keep it alive
I am not sure what the 13.25% relates to. Could you advise?
Adult parents lolz..
Love your content. Appreciate your time and effort.
You are very welcome. I am pleased they are entertaining 🤪
Great video as allways. Hove you a loan agrement i can down load ?
Sadly I do not have one but do a Google search for loan template and there will be plenty
Can you pay pension standalone(no salary) out of ltd company spv for buy to let?
Technically this is possible. However, pensions are normally payable to paid employees or directors. It is possible for Hmrc to raise an enquiry as to the commerciality of making the pension contribution
The vouchers.. you said £50 every 2 months. Does this mean it’s £300 for company owner every 2 months ?
Hi Andrew £50 every two months resulting in £300 per year 👍
hello I wrote a ltd to sell on Amazon UK
I am French and I live in France
I don't understand why I receive letters from the English government every two months and the last letter I received was to ask me for money but I don't understand why since I never turnover fact
and what I don't understand either is that I thought that Ltd are free?
is it possible to change my credit card number and my registered postal address
I think the best thing for you to do is to contact them and understand what the letter is all about
@@UK-Property-Tax-Accountants of course I did twice for 10 days ago but they don't answer
50k to 250k is not 26.5 , its done on a marginal rate so 250k profit is about 21.94% corp
www.tax.service.gov.uk/marginal-relief-calculator/check-your-answers
Not quite
The effective tax rate is applied to the entire profits.
£100,000 has the marginal profits with 22.75% being £22,750
However if you take away £50,000 which is taxed at 19% being £9,500
The tax on the excess of £50,000 is therefore £13,250 (£22,750 less £9,500).
This is 26.5% (£13,350 / £50,000).
Does that help you navigate the craziness of corporation tax