How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask bigduckontax Your Own Question
bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4198
Experience:  FCCA FCMA CGMA ACIS
75394688
Type Your Tax Question Here...
bigduckontax is online now

Rtainly yes Sr.. my question is me and my wife we got a small limited company we are the

Customer Question

rtainly yes
Sr.. my question is me and my wife we got a small limited company we are the only shareholder 50% each ... she works full time and she is employee of the company, I'm a director and do all the paper work part-time but i'm not employee of the company and don't receive salary ... I have another full time job ...if i'm in payroll of the company i will pay too much tax, there is another way? to pay less tax? and use the benefits of having a company?
i know is too much questions if you could answer at least one i would be very grateful
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question. You are an employee of the company, a director is an employee per se and must be remunerated under PAYE arrangements. However, as you do not receive any pay from the company that is no problem. Your solution would be to pay your wife more and to keep within her 20% tax bracket. You do not have to remunerate yourselves 50/50, wages are outside the scope of shareholdings. Wages are allowable against the company's profits for Corproation Tax (CT). Am I pointing you in the right direction?
bigduckontax and other Tax Specialists are ready to help you
Customer: replied 1 year ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Customer: replied 1 year ago.
can i call you instead writing?
Expert:  bigduckontax replied 1 year ago.
Thank you for your support. Remember the fact that you and your wife own the company 50/50 does not mean that salaries necessarily have to be distributed 50/50.
Expert:  bigduckontax replied 1 year ago.
I am on ***********
Customer: replied 1 year ago.
Again, thank you very much mr Keith..
Expert:  bigduckontax replied 1 year ago.
Delighted to have been of assistance.