1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

  2. Not all business & social networks are the same. UK Business Labs brings people together and makes blogging, networking, discussion and marketing easy and effective. The software is used by tens of millions of people worldwide so it's simple to use too. UK Business Labs integrates with Twitter, Facebook, Google+, LinkedIn, WordPress, Tapatalk and countless other social media tools; which enables you to share your content quickly. You'll need to register before you can post but registration and basic membership is absolutely FREE. Click the image above or the 'Register' link to get networking with thousands of other business owners. We're looking forward to welcoming you!

Withdraw salary once per year without paying tax

Discussion in 'Accountancy, Finance & Tax' started by Fraser King, Jan 8, 2018.

  1.  
    Fraser King

    Fraser King Applicant

    Joined:
    Mar 4, 2015
    Messages:
    7
    Likes Received:
    0
    Trophy Points:
    1
    I’m the owner and only employee of a limited company. If I knew the profits were say £5000 1 month before the end of the tax year. Is it legal for a salary to be paid once per year? So instead of withdrawing a dividend of £5000 and having to pay CT and Income Tax. The £5000 would be noted as a salary on the tax return saving from having to pay any tax. Taking into consideration the tax-free Personal Allowance for Income Tax is £11,500.

    Any help is appreciated
     

Share This Page