Thanks for your prompt response. Some clarifications needed for me to understand your replies though. In the same order:
1. Thanks. How do I create my loans under company as 'part of an incorparated body'. what does that mean?
2. My wife is a consultant to my firm and I pay her 500 per month for the admin work she assists with but is not on PAYE as its below 8500 per annum (health insurance is 800 pa so total income for her is 6800). Is that ok?
3. Dont understand this. This will be my first dividend out from my company. Do you mean that while paying dividend, I will have to pay some tax on it from the company to pay it? at what rate? is this the credit thats not refundable and therefore becomes a non-taxable income up to my total income of 38k in my hands? In my personal account I have other income of 14k including her above health insurance benefit and I am hoping to create more tax in my personal return through the above my company dividend to use EIS this year (didnt have enough tax last year too to use it)
4. Thanks. Very clear.
Thanks. You have added more than enough value for the money I paid. I have rated you now but I if I want to pursue some of these issues later, can I get in touch with you again direct as you know my story?
great. will do.by the way the link on tax on dividends is not working from the landing page you have attached...any other place i can check?