Tax - Extracting income from a company

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PROFIT EXTRACTION - 18.03.2024

Avoiding or reversing inefficient profit extraction

The end of the tax year is almost here and it’s time to check your tax position. You may have room to take more tax-efficient income from your company, or you might discover you’ve overdone it. What steps can you take to rescue the situation?
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PROPERTY - 18.03.2024

Budget 2024 - big changes to property-related taxes

The Spring 2024 Budget was a mixed bag for residential landlords. The Chancellor gave with one hand and took away with the other. As a property owner, what might the changes announced mean for you?
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TAX PLANNING - 05.03.2024

Threshold tax and benefit traps on families

The media like to bandy about the phrase “stealth tax”. In reality what they call stealth tax isn’t at all. However, there are genuine cliff-edge income thresholds that result in unfair tax charges. What are they and how can you avoid them?
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EXPENSES - 05.03.2024

Overseas business trip with the family - is it taxable?

Our subscriber is making an overseas trip for business and is taking her spouse and two children so they can holiday while she’s working. Her question is, can she put the expense through her company and if so are there any tax considerations?
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TAX CASES - 27.02.2024

Could dividends be included in CJRS claim?

Case. Bandstream Media (B) made a claim under the Coronavirus Job Retention Scheme (CJRS) in respect of S, a director of the company. The claim was for £2,500 per month, but it transpired that only £600 was paid as salary. B also paid dividends of £2,500 per month to S. This is a typical remuneration strategy for owner managers. ...
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PROFIT EXTRACTION - 20.02.2024

Planning your year-end dividend

The end of the tax year is approaching and you want to make full use of the 8.75% tax rate that applies to dividends. How can you work out how much dividend you can take and ensure its payment before the tax year ends?
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Tax - Extracting income from a company

Most read Tips & Advice

EXPENSES - 24.01.2024

Tax relief for home broadband?

You’ve agreed to reimburse part of an employee’s broadband bill for when they work from home. HMRC’s guidance says that although it’s a business expense you must deduct PAYE tax and NI from anything you pay. Why, and can it be avoided?
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PROFIT EXTRACTION - 20.02.2024

Planning your year-end dividend

The end of the tax year is approaching and you want to make full use of the 8.75% tax rate that applies to dividends. How can you work out how much dividend you can take and ensure its payment before the tax year ends?
Read more

EXPENSES - 05.03.2024

Overseas business trip with the family - is it taxable?

Our subscriber is making an overseas trip for business and is taking her spouse and two children so they can holiday while she’s working. Her question is, can she put the expense through her company and if so are there any tax considerations?
Read more

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