COULD PAYING YOURSELF DIVIDENDS COST YOU EXTRA TAX AND NI?

If you don’t do it properly, then yes, it could.

When you pay yourself from your company, you must make sure that you do it properly. If you don’t, you may end up paying additional Income tax, National Insurance and Corporation Tax.

The four main things to think about are;

• Are the payments legal
• Have they been properly declared
• Have they been properly dated
• Have they been properly documented

If you follow our simple guide, you won’t go far wrong.

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