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Withdraw salary once per year without paying tax

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

    Fraser King

    Fraser King Applicant

    Mar 4, 2015
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    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

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