Hi folks,
Myself and my wife are both directors of my company, we are both IT contactors, my wife has just finished maternity leave and wont be working again for the company so i want to pay her redundancy. I belive i can pay her up to 13K in redundancy payment, is this correct?
Also, i recently took profit from the company of around 13K and paid tax at 41% on this. Would it be possible to reverse this payment and use the 13K to pay redundancy and claim the tax back thats already paid? So use the 13K profit as the redundancy payment or is it too late?
X.
Myself and my wife are both directors of my company, we are both IT contactors, my wife has just finished maternity leave and wont be working again for the company so i want to pay her redundancy. I belive i can pay her up to 13K in redundancy payment, is this correct?
Also, i recently took profit from the company of around 13K and paid tax at 41% on this. Would it be possible to reverse this payment and use the 13K to pay redundancy and claim the tax back thats already paid? So use the 13K profit as the redundancy payment or is it too late?
X.