Your company’s accounting period is ending soon and the directors want to pay a bonus so the company can reduce its corporation tax bill. The trouble is they don’t want to pay tax on it until the
following year. Is this possible?
Published 18.02.2022
Your company’s financial year ends soon. Despite the tricky trading conditions over the last year the accounts will show a profit. What steps can you take to legitimately reduce the corporation tax
bill?
Published 23.02.2021
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
Paying a nanny or any other home help will come out of your net salary, making it very costly. A colleague has suggested that putting the expense through your company will save a stack of cash. Is he
right?
Published 15.10.2013
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 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
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
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
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
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