To do this well you need to balance taking income via dividends, benefits-in-kind and salary.
This is a complex calculation as there are various tax-free bands and numerous differing tax rates
Income tax 0%; 20%; 40% and 45%
Dividends O%; 25%; 30.56% and soon to be a new rate of 7.5%
The difference between a good plan and no plan for typical earnings of £25 – £30k can be as much as £3,000 in tax.
It’s useful to be confident that your accountant is balancing your books in the most efficient way possible.
So this week I am looking for individuals or businesses who feel that they may be paying too much tax.
Please get in touch and we will look for free. If we can’t save you we won’t charge you. What have you got to lose?
Phone 0113 391 9990 to book your free assessment.