Advice on extra tax liability for GTV dependent working spouse who also got paid dividends from a different entity
Posted: Wed Sep 06, 2023 11:02 am
Hello moderators,
Needed some guidance.
My Global Talent Visa dependent spouse is a salaried employee in one entity and also a shareholder in the company I founded. Recently she’s got dividends issued. So naturally we'll have to ‘add’ this amount to her total taxable income and pay taxes accordingly.
Could someone guide on what’s the process of doing this? Is there an online process where we can change her current income tax code so that she gets deducted a proportionally higher tax amount by her employer and account for this dividend payout in one place? If not, is there an additional self assessment she needs to file?
My query is, how does one close the loop in this situation with HMRC?
If someone has some knowledge in this matter, your kind advice would be very helpful.
Thank you
Needed some guidance.
My Global Talent Visa dependent spouse is a salaried employee in one entity and also a shareholder in the company I founded. Recently she’s got dividends issued. So naturally we'll have to ‘add’ this amount to her total taxable income and pay taxes accordingly.
Could someone guide on what’s the process of doing this? Is there an online process where we can change her current income tax code so that she gets deducted a proportionally higher tax amount by her employer and account for this dividend payout in one place? If not, is there an additional self assessment she needs to file?
My query is, how does one close the loop in this situation with HMRC?
If someone has some knowledge in this matter, your kind advice would be very helpful.
Thank you