Have Tax Questions? Ask a Tax Expert for Answers ASAP
Hi and welcome to JustAnswer. I’m Mo Barrie, Qualified Accountant and Tax Expert. I’m currently reviewing your question and will respond to you shortly.
Thank you for your patience.
Generally, dividends and payroll are efficient for a limited company owner.
A Director only needs to register for self-assessment if an additional tax liability is due.
Corporation tax would be 19% up to 300k on profit
You would run 12570 basic pay - no tax, just no to pay
Dividends tax 2000 free & 8.5% up to basic.
Its way cheaper than, sole trading or just full paye.