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Overdoing dividends can cost you extra tax
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Overdoing dividends can cost you extra tax
Company law limits the value of dividends you can take from your company. While there’s no direct financial penalty for taking excess dividends, there can be costly tax consequences. How can you avoid these? Insufficient profit The last fewyears have been tough for many businesses which has resulted in significant reductions in profits. The lower profits are bad enough but some director shareholders who take most of their income as dividends fac…
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