dazmond
Well-known member
- Messages
- 2,506
- Location
- salford, manchester
i thought you was earning a lot for a one man band!ah see i didnt realise you had to pay 2 wages out of that......plus 2 kids......I have a good accountant this year, the tax won't be too bad as my wife works in the business too.
We pay ourselves 17k each and the corporation tax will get paid on what's left at year end. The business costs between 8-10k to run with the 34k wage which the tax is paid on and around £500 in dividends per month makes roughly 50k, there isn't a huge amount left to tax.
If it was up to I would have a new van with all the bells and whistles, but my wife is a director too and doesn't have the same views as me with regards to buying equipment.