There is only one way to find the answer to how much you can take in dividends from your limited company and that is from your accounting records.
If your spouse does not work elsewhere and they actually do some tasks within the business then you could consider paying them a salary.
Important changes to the VAT Flat Rate Scheme came into effect from April 2017. HMRC have introduced a new flat rate of 16.5% which must be used by a “Limited Cost Trader” irrespective of their industry sector.
A deal has been made to pass the Scottish Budget. The agreement reached means that income tax rates for high earners who live in Scotland will not increase. However the higher rate tax threshold (the rate at which tax payers start paying 40% tax) will be frozen.
Our Salary and Dividend factsheet gives details of our recommendations for taking a salary and dividends from your limited company. Everyone is different – the solution given here is generic.