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PROFIT EXTRACTION

Use your company resources for personal profit

You have the opportunity to make some money from a one-off venture. While your company will do the work and receive payment it, you want to take a share of the profit rather than as salary. Can you do this? More...

BENEFITS IN KIND

Salary sacrifice still safe for directors

From April 2017 some types of salary sacrifice scheme for employees will cease to be tax efficient. But can directors escape the new rules? More...

BENEFITS

Don’t miss the PSA deadline

BENEFITS

Buying a home with company money

You want to move to a bigger home but the mortgage borrowing limits are proving a problem. Your company could instead buy it or provide cash, but what are the tax consequences? More...

BENEFITS IN KIND

Accountants’ fees and directors’ tax returns

Accountants will usually charge you personally for completing your tax return according to the time spent. But what’s the tax position if the charge is wrapped up in the fee for preparing your company’s accounts? More...

PROFIT EXTRACTION

Good reasons to pay yourself a salary in 2015/16

The new tax year starts on 6 April 2015 and with it comes a rise in personal tax-free allowances and NI limits. How do these and other factors affect the level of salary you should take from your company? More...

PROFIT EXTRACTION

How to make tax efficient one-off payments

The office space at work needs a lick of paint, and to keep costs down you’ve decided to do it yourself. Your fellow directors are happy with the arrangement and have agreed to pay you a little extra. Does this have to go through the payroll? More...

EXPENSES

Tax deductible personal expenses

Payments you receive from your company are usually liable to income tax unless they are to reimburse you for business expenses you’ve paid personally. However, there’s an exception. What is this and how does it work? More...

BENEFITS

Vouchers offer tax savings and more

You’ve heard there are tax, NI and other advantages to giving your employees vouchers instead of other types of benefit-in-kind. What are these and what are the tax and NI breaks? More...

PROFIT EXTRACTION

VAT threat to salary sacrifice schemes

Last updated: 13.08.2020

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