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Tax advantages of a Limited Company#AskAMS

There are 3 tax advantages for small Limited Companies over Sole Traders and Partnerships. There is no National Insurance to pay on Dividends, but 7.5% tax is due after the first £5,000 (now £2,000) is paid out.

You pay income tax on dividends only when you take out the money rather than when it is earned – which means more flexibility. Thirdly, to avoid Higher Rate Tax, you can split the dividends with your lower earning spouse/partner to reduce the tax on you.

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Tax advantages of a Limited Company#AskAMS

There are 3 tax advantages for small Limited Companies over Sole Traders and Partnerships. There is no National Insurance to pay on Dividends, but 7.5% tax is due after the first £5,000 (now £2,000) is paid out.

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