Accountants, PKF's dividend calculator is available here:
Dividend Tax Calculator
PKF said: "Thousands of owner-managers that carry on business through a company and pay themselves in dividends (rather than take a salary) face huge tax increases in this year's Budget.
"For example, an owner-manager whose company makes profits of £35,000 in a year may take a salary of £5,000 and dividends of £25,000. If the dividends are taxed as salary, the owner would see a reduction in his income of £5,324 - over 15 per cent of the company's total profits.
"Many of the business owners that visit Shout99 will be affected by this change and may welcome the chance to work out what it will cost them."
Different methods of taxing such dividends will produce different tax charges. Using PKF's calculator, company owners can see the impact on their income for each of the following options open to the Chancellor:
- Treating the dividends as salary
- Charging NIC on such dividends
- Imposing an investment income surcharge
- Removing the tax credit from the dividends
- Abolishing the 0% starting rate of corporation tax
Seminars - Freelancing after the Budget
When it is known which of these options the Chancellor will go for, Qdos and Shout99 are holding a series of seminars around the country to explain what it means for freelancers and to offer advice as to how you can operate in the new regime.
The seminars will be held in:
- 23 March - Aberdeen, Best Western Westhill Hotel;
- 24 March - Kendal, Best Western Castle Green Hotel;
- 25 March - Leeds, Ramada Leeds Parkway;
- 30 March - London, Ramada Jarvis, London West, Ealing Common;
- 01 April - Bristol, Ramada Plaza;
- 06 April - Leicester, Best Western Belmont House
Time:5:00pm to 7:30pm (registration 4:30pm) Aberdeen, Kendal, Leeds, Bristol, Leicester;
6:00pm to 8:30pm (registration 5:30pm) London.
Cost per place is £55 including VAT.
Places are available to freelancers, small businesses, accountants and advisers. Numbers are limited and places are available on a 'first come, first served' basis.
For more information or to book your place, telephone Amie or Stacey on 01455 852030.
Or to book online, click on the link here:
Seminars: Freelancing after the Budget
If you know anyone else who could be affected by this, you can forward this article to them by using the 'Email A Friend' link below.
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Susie Hughes © Shout99.com 2004
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