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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 7539
Experience:  FCCA FCMA CGMA ACIS
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I am looking ti set up a holding company for my 3 companies

Customer Question

Hi- I am looking ti set up a holding company for my 3 companies and would like advice
JA: Have you talked to a tax professional about this?
Customer: no- Thats why Im on here
JA: Anything else you want the Accountant to know before I connect you?
Customer: no
Submitted: 11 days ago.
Category: Tax
Expert:  bigduckontax replied 11 days ago.

Hello, i am one of the experts on Just Answer and pleased to be able to help you with your question.

 

What advice do you need?

Customer: replied 11 days ago.
So I have 3 childcare businesses and want to know the benefits of setting up a holding company, As a holding company what do I need to file each year?- Do i then make all 3 of my companies 100% shareholder to the holding company and myself 100% share holder of the holding company? I take a salary in one of my businsess can I contunie to do this? How do I take out dividends? is this sent to the holding compnay then I take it from there?
Expert:  bigduckontax replied 11 days ago.

Within a company group profits and losses and losses can be moved upwards, downwards and sideways to reduce overall profits. You can continud to take a salary from one of them, but this must be paid through PAYE channels. The first 2K of dividends are tax free in your hands.