The signs are that last year was a good one and a bonus seems an appropriate reward. The trouble is there’s not much in the company’s bank account. If there’s an alternative to cash what might the
tax advantages be?
Published 03.02.2014
HMRC disapproves of director shareholders paying their spouses a salary from the business solely to reduce tax. It considers such arrangements unfair avoidance. Is there an alternative which won’t
cause problems with HMRC?
Published 27.05.2016
You personally borrowed money to provide extra working capital for your company. It’s going to reimburse you, but if it’s not done the right way it will result in a tax and NI bill. How can you turn
this potential tax trap to your advantage?
Published 04.05.2016
The cut in the top rate of tax next April will affect only those with annual incomes of £150,000 plus. But there are hidden trigger points for higher tax rates much lower down the scale. What are
these and how can you dodge them?
Published 07.06.2012
As a director and shareholder, you know that paying yourself a dividend is more tax-efficient than a bonus. But if there are other shareholders, they must receive a dividend at the same time. How can
you keep more for yourself?
Published 18.01.2006
Your accounts for last year show a profit and you’re meeting with your fellow directors to decide whether it should be paid out as dividends. As tax will play a major part in your decision what are
the most efficient options?
Published 14.04.2014
There are tax advantages associated with shifting business income between spouses. But you and your partner aren’t married. Can you take advantage of any similar tax breaks?
Published 17.03.2017
The Autumn Statement included another swipe at company owner managers to add to the hit they’ll take when the corporation tax rate increases in April 2023. In light of this should you be
rethinking your profit extraction strategy for next year?
Published 20.02.2023
You want to extract profit from a close company. The traditional advice is to go for a dividend as it is more tax efficient. However, there are some exceptions to this rule. What are they and how do
you make the most of them?
Published 19.02.2019
A tax tribunal has considered if money drawn from a company by its directors was earnings, on which PAYE tax and NI was due, or dividends. The directors said it was the latter, HMRC took a different
view. What was the decision?
Published 28.06.2016