thank god this video saved me, I might be a RU-vidr but I take business in year 10 at school we had cover teacher for this lesson you are so much better thanks
Hi pal quality vid first of all. I am a small business owner. I’d like to know how do complete the paperwork for dividend payouts. For example, I own a takeaway and receive several payments from the likes of Uber eats and just eat. If all these payments are made into my business account do I simply need to make a note of my profit for the month and I am able to then make my dividend payment to my personal account. Then do I need to update this on my accounts and let me accountant aware. Feedback would be much appreciated pal. Thank you
Does the same apply if you are a sole trader? I haven’t yet taken any money from the business. As it’s a second job. Any profits a make go back into buying tools etc for the business. Can I still withdraw 2k from the business with out being taxed? Thanks for a great video
For a sole trader there are no dividends / no allowance sadly. You may find if you've re invested all the profits into equipment etc, depending on dates you might not have a tax bill anyway.
