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CORPORATION TAX

Can a pension payment turn a profit into a loss?

Usually your company makes a substantial pension contribution for its directors. But projections show only a modest profit for this year which won’t be enough to cover the pension payments. Is it still tax efficient for it to go ahead? More...

PROFIT EXTRACTION

Getting your company to pay for your partner’s pension

You want your spouse to have their own pension plan. As they have little income of their own you intend to pay the contributions yourself. Alternatively, would it be more tax efficient to get your company to pay them? More...

PROFIT EXTRACTION

Tax planning for company owner managers

Tax on dividends is increasing from April 2016 and the government is attacking the sheltering of income through companies. A safe, tax-efficient profit extraction method is needed, but is there anything that fits the bill? More...

PENSIONS

Get a little extra tax relief on pension contributions

A colleague tells you that tax relief on pension contributions is only allowed against salary and not dividends. And, because you only take a small salary from your company on which you don’t pay tax, you’re losing out. Is he right? More...

PENSIONS

Pension annual limit trap can catch out directors

The current rules on pension contributions have been around for over a year, but they’re still throwing up new problems. The latest one can seriously limit tax relief for directors using a low salary/high dividend tax strategy. What’s the full story? More...

LOANS

Can you afford not to take a salary?

It can take some time before a new company has enough income to be able to afford to pay its directors. This can mean losing out on tax and NI advantages. But is there a way to achieve these without the company having to actually pay you? More...

PROFIT EXTRACTION

Best tax strategy for pension payments

In April this year the rules for tax deductions on pension contributions underwent a major overhaul. But what effect, if any, did this have on company contributions, and is there still a tax advantage to these? More...

PENSIONS

Trojan pension

Sound advice for SMEs is for a director/shareholder to take enough salary to cover their tax-free personal allowance and extract any further cash needed as dividends. But should you pay pension contributions out of this? More...

PROFIT EXTRACTION

NI bill for company contribution

The Taxman sent our subscriber a bill for NI on pension premiums paid by his company directly into his pension scheme. Employers’ contributions are supposed to be NI-free, so what should you be doing to ensure this? More...

PENSIONS

Before and after A-day

On April 6, 2006 (A-day) the rules for making tax-free contributions to pension schemes change. What do you need to know now, from a tax point of view, to stay ahead of the game? More...
Last updated: 18.10.2019

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