New Limited Company...

[coolsats]

Hey Guys,

I was with an umbrealla company for some time and now setting up my own limited company. I am thinking of tying up with this one accountancy firm and they are charging me 84 pounds a month.

They advice me to take 625 pounds per month as salary and 2600 as dividend every month. And they will provide me with salary slip and divided voucher each month and take care of all my tax returns.

Kindly adive if i can go ahead with this this salary and dividend and i ll be okey when I do my extension next year august.
Anything else that i need to check with these guys and it is ACCA certified.

Regards..

[tier1_applicant]

Hey Guys,

I was with an umbrealla company for some time and now setting up my own limited company. I am thinking of tying up with this one accountancy firm and they are charging me 84 pounds a month.

They advice me to take 625 pounds per month as salary and 2600 as dividend every month. And they will provide me with salary slip and divided voucher each month and take care of all my tax returns.

Kindly adive if i can go ahead with this this salary and dividend and i ll be okey when I do my extension next year august.
Anything else that i need to check with these guys and it is ACCA certified.

Regards..

If you can satisfy earnings thresholds you need with the above figures you should be fine to go ahead.

[John]

I'm just wondering why they suggest £625 per month salary. I would suggest salary of £589 per month would be better, as it would avoid any Class 1 NIC being paid by you and the company.

[nfoote]

I'm just wondering why they suggest £625 per month salary. I would suggest salary of £589 per month would be better, as it would avoid any Class 1 NIC being paid by you and the company.

Really? My accountant set up a payroll of something like £800/month for me?

At any rate, to the OP, as other people have said, as long as that adds up to enough total income to get you enough points based on your other points-claims (age, degree, ete) then you should be fine.