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Search results: 8 article(s) found in topic: Profit extraction - keyword: Bonuses

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Last minute remuneration for 2018/19

With the end of the tax year just a few weeks away you might be planning to draw extra salary or dividends from your company to maximise tax efficiency. What steps must you take to ensure payment falls in the right tax year? More...


Directors’ bonuses avoiding the PAYE trap

HMRC applies special PAYE rules to directors’ bonuses. These aim to collect tax and NI at the earliest opportunity, even before the directors get paid. Is there a legitimate way to dodge the rules and defer paying HMRC? More...


Deferring a bonus tax efficiently

Your company’s draft accounts show a good result and the board wants to reward senior staff with bonuses. The trouble is there’s not enough money in the bank to pay them. Is there a cash and tax-efficient solution? More...


Bonus more tax efficient than a dividend?

Your company’s financial year is ending soon and projections point to a reasonable profit. If you draw this as a dividend, you’ll pay higher rate tax, whereas your spouse would only pay at the basic rate. Can you simply shift the income to them? More...


Boost your bonus and defer your tax

You can easily find yourself in a Catch 22 position when, on the one hand, trying to save your company tax and, on the other, aiming to reduce your own self-assessment tax bill. Is paying yourself a larger bonus a solution? More...


Corporate tax effect on directors’ income

If your company is successful enough to have profits in excess of £300,000, it will be paying Corporation Tax (CT) at rates of up to 29.75%. Should you factor this into your decision on whether to take extra dividends or a bonus? More...


Interest on company money

Your company has been doing well and has accumulated some excess cash. Should you leave these funds in the company’s bank account or take them out and invest them in your own name? More...


Corporate moneybox

Like any successful businessperson you’ll to want to enjoy the fruits of your labour, meaning that a significant part of the profits will be withdrawn from your company. But until the cash is needed, can you just leave it there? More...
Last updated: 01.04.2020

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