How To Pay Yourself As a LIMITED COMPANY - Directors Salary - DIVIDENDS vs SALARY UK 2023/2024 - Guapify

BEST WAY TO PAY YOURSELF As a LIMITED COMPANY 2023/2024 – 3 SCENARIOS – i) DIVIDENDS vs SALARY UK ii) Pension vs Dividend vs Salary iii) Salary ONLY. Learn the most TAX EFFICIENT Director’s Salary to pay yourself. Download FREE Spreadsheet used here: https://thehumblepenny.com/DVS

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MARY:

I’m married to Ken and we have two boys aged 6 and 4. I’m a Londoner, born in Hackney! 🙂

Day to day, I run the operations of The Humble Penny as a creative – doing everything from marketing to video editing. I studied Multi-media design and technology at Uni.

When I’m not creating, I love vegan food, traveling, working out and doing some outdoor fun things with my husband and kids 🙂

KEN:

I’m a husband to Mary and daddy first and foremost.

Former CFO by day with over 12 years experience in the investment business. I’m a Chartered Accountant and hold an MBA from Cambridge University.

To explore my creativity, I’m a blogger, youtuber, speaker, etc. I create from my experiences as a family man and First Generation Immigrant.

I have a passion for all things Personal Finance, Business and Personal Development. I also love Photography, Music, Travel, and Sport.

We became Financially Independent aged 34 and our story has been featured on the BBC, ITV, Financial Times, The Sunday Times, etc.

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★★ TIME STAMPS ★★

0:00 – Intro
0:33 – 3 Scenarios For This Video (Very Important!)
2:00 – Who Should Watch This Video
2:51 – Agenda of 7 Things You MUST Look At First!
3:30 – CORPORATION TAX (what you need to know)
4:35 – ALLOWABLE EXPENSES (what you need to know)
5:05 – COMPANY PENSIONS (why this is important)
6:06 – INCOME TAX (key changes, rates & thresholds)
7:25 – NATIONAL INSURANCE (why you need to look at this first)
9:35 – DIVIDENDS (allowances, rates & thresholds)
11:31 – SUGGESTED TAX EFFICIENT Director’s Salary for 2023/24
13:12 – Why I chose this Tax Efficient Salary for 2023/24
18:18 – Scenario 1A: DIVIDENDS + SALARY (£9,100)
20:37- Scenario 1B: DIVIDENDS + SALARY (£12,570)
21:41 – Savings from £9100 salary vs £12,570 salary
22:26 – Scenario 2: PENSIONS + SALARY
23:35 – Scenario 3: SALARY ONLY
24:20 – COMPARE: Scenario 1 vs Scenario 2 vs Scenario 3
25:43 – Final things to consider on this journey