If used correctly, dividend waivers can be an effective planning tool, particularly where one shareholder is a higher-rate or additional rate taxpayer and others are
The Chancellor’s recent mini-Budget and subsequent U – turns threw a number of spanners into the works as far as profit extraction strategies are concerned.
Where the plan is to pay a dividend the director/shareholder must ensure that set procedures are in place. This article describes some traps for the
If you operate your business as a personal or family company, you will need to extract some or all of the profits if you wish
Special rules apply to company directors when it comes to calculating their Class 1 National Insurance liabilities. Why the rules Directors, particularly of personal and
For personal and family companies it can be beneficial to extract some profits in the form of a salary. Where the individual does not have
The non-cumulative nature for calculating National Insurance Contributions (NICs) makes it possible to manipulate earnings to reduce the overall amount payable by taking advantage of
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