Tax for Companies and their Owners

A Tips & Advice book about... 

In a nutshell

Tax planning and compliance play a vital part in managing a company and the income that its directors and shareholders are able to take from it. This book considers the tax and NI consequences for companies and their owners of extracting income safely and tax efficiently from the business.

In detail

The first two parts look in detail at the methods open to company directors and shareholders for taking income. They examine the general pros and cons, practicalities and overall tax efficiency of each method. They compare how and when each method can be used to maximise after-tax income.

The next part explains the tax and NI rules that apply to expenses paid by companies for and on behalf of their owner managers. It looks at HMRC’s view of expenses payments and how to avoid disputes and dodge traps.

The last part of the book considers other transactions that involve companies and their shareholders, such as directors' loan accounts, selling or winding up a company and inheritance tax issues. It looks at the practical issues, tax planning ideas and possible pitfalls.

The topics covered include:

• Salary and benefits v dividends
• Company cars and other benefits in kind
• Tax and NI-free perks
• Borrowing from and lending to a company
• Income shifting to a spouse or civil partner
• Pension savings
• Closing down a company
• Income tax-exempt expenses
• Using your home for work
• Travelling for business
• Staff and customer entertaining
• Reporting and managing expenses and benefits

For who

We've created this Tips & Advice book especially for... 

Company owner managers looking for tax and NI-efficient profit extraction strategies that can be tailored to their circumstances, plus those that advise them.

Extras

You'll get the following free extras with this Tips & Advice book...

An online service with ready-to-use documents

• To immediately apply our advice and solutions in practice
• That you can easily adapt to suit your own requirements