PROFIT EXTRACTION - 08.07.2024
Tax and NI planning for multiple directorships
You’re a shareholder and director of three companies. You currently take a low salary from each company topped up with dividends. But is this really the most tax-efficient option?
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EXPENSES - 24.06.2024
What household expenses can you claim?
Your home-based business is thriving and there’s little time for admin tasks. Nevertheless, keeping detailed records is a necessary but time consuming evil. What steps can you take to simplify this without losing out on tax relief?
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INCOME TAX - 24.06.2024
Two important tax changes dropped
New law. The Finance (No.2) Act 2024 (FA No 2) received Royal Assent and so became law at the end of May. The general election being called for 4 July meant there wasn’t enough time to include all the tax changes announced in this year’s Budget. ...
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PROPERTY - 12.06.2024
Holiday homes - RIP FHL?
The Spring Budget 2024 announced the abolition of the furnished holiday lettings regime from April 2025. What steps should you be considering to mitigate the possible tax consequences?
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DIVIDENDS - 12.06.2024
Tax-efficient way to use dividends
The next dividend from your company isn’t due to be paid for another few months. However, arranging for it to be paid earlier, or taking an extra dividend, can provide an opportunity to save some tax on your company benefits. What’s involved?
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PROFIT EXTRACTION - 03.06.2024
Can dividends ever be paid from loss-making company?
Dividends are generally the most tax-efficient form of income you can take from your company but they can only be paid out of profits. Despite this, might there be a way for your loss-making company to pay you a dividend?
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