A shareholder/ director is permitted to withdraw monies from the company’s bank account as salary, bonus or dividend (or possibly a loan’). However, there are
When an asset is placed within a trust it is termed as being ‘settled’. However, the tax legislation defines the word ‘settlement’ widely as including
Dividends have their own tax rules and their own rates of tax. The rules and the rates apply in the same way regardless of whether
Open until 31 March 2021, the Governments’ Bounce Back Loan Scheme (BBLS) helped support businesses during the coronavirus pandemic, permitting firms to apply a minimum
For personal and family companies, a tax efficient strategy for extracting profits is to take a small salary and to extract any further funds needed
Dividends can only be declared out of a company’s available undistributed profits, and if the payments are to be legal then the correct administrative procedures
Running a property business through a limited company rather than as an unincorporated business may be an attractive proposition; at 19% the rate of corporation
The Covid-19 pandemic has had an adverse effect on millions of family companies, potentially reducing or eliminating profits. Where there is cash in the business
