Used in conjunction with a salary at or just below the personal allowance level, the extraction of funds from the company using dividends still offers the most tax effective route to minimising your personal tax liability.
This article concerns an announcement made in the Budget 2016 for which legislation will be introduced through the Finance Bill 2016.
Where loans are made to directors and unpaid nine months after the company year end, the tax charge is now 32.5% for all funds drawn.
You may have heard of this latest new initiative from HMRC sometimes referred to simply as MTD – here we look at what this is and how it will impact you and your business.
Automatic enrolment legislation will affect all employers with at least one member of staff in the UK. An employer’s duties will “switch on” from their staging date. By now, many small businesses have received their letter from the pensions regulator with their staging date. If you don’t know yours yet, please contact us and we can confirm this for you.