PAGES: 74
EDITION: 1st
ISBN: 9781911020745
STATUS: IN STOCK
Tax Planning for Directors
Small company owners face a significant number of tax changes over the next couple of years.
These include an increase in corporation tax, the new Health and Social Care Levy, higher tax on dividends and a five-year freeze to income tax allowances and thresholds.
There is also good news, including a further extension to the £1 million annual investment allowance and a new 130% Super Deduction for certain types of investment spending.
This brand new guide shows you how to make the most of ALL these changes with sensible tax planning… including what you should do before the end of the current tax year.
Tax Planning for Directors is essential reading for ALL company owners, including owners of property investment companies.
It takes a practical approach to tax planning, looking at what really matters to most people: after tax income in real terms, after accounting for inflation and all of the Government tax increases.
What Information is Contained in the Guide?
Using numerous worked examples this guide shows how:
- By paying an extra £900 in tax now, a couple save nearly £9,000 over the next few years.
- Borrowing from your company could be up to 31% cheaper than taking dividends in future. One director saves over £12,000 when she borrows £25,000 from her company.
- High earning directors can save over £5,000 every two years, simply by adjusting the timing of their dividends.
- One company saves £11,250 in corporation tax by accelerating the sale of a company property; another saves almost £13,000 simply by changing its accounting date.
- One director generates tax savings of almost £10,000 by employing his children.
- By using company pension contributions, one director obtains after tax income of £136,000 over 5 years while creating a tax saving of £18,400.
- By 2023/24, some business owners could be almost £10,000 worse off using a company, while others may enjoy savings of over £10,000.
PLUS the guide also contains:
- Year end planning: steps to take by 5th April 2022, your company’s accounting date, or other key dates, to save thousands of pounds in tax.
- A detailed review of the age-old question of ‘salary or dividends’ in the light of all the tax changes.
- Other more tax efficient ways to take money out of your company.
- Marginal tax rates for director’s dividends at all levels of income, and why these range from 0% to 56.25% depending on the circumstances.
- Ways to combat the 2.5% increase in the cost of employing people.
- Why the Health and Social Care Levy will have an even wider impact in 2023/24 than the national insurance increase will in 2022/23.
- Details of which companies will benefit by taking advantage of the 130% super-deduction for purchasing new assets by 31st March 2023.
- Changes to the annual investment allowance that make it critical for even quite small companies to time their capital expenditure carefully.
Click here to read the full contents listing and first section of the book
About the Author - Carl Bayley BSc FCA
Carl began his career as a chartered accountant over 30 years ago and is now one of the country's most respected tax experts. He was Chairman of the Tax Faculty at the Institute of Chartered Accountants in England and Wales (ICAEW) from 2015 to 2018 and is currently a member of the Institute's governing Council. He has written over 10 plain-English tax planning guides and is a regular contributor to newspapers including The Times and The Telegraph, as well as TV and radio programmes such as BBC Radio 2's Jeremy Vine Show.
Carl enjoys his role as a tax author: "The most satisfying part is the chance to give everybody a high standard of advice at a very affordable price". As he often says: "My job is to translate tax into English".
Free Bonus Tax Guide - How to Save Tax 2022/23
When you order this guide you will also receive a FREE copy of How to Save Tax 2022/23.
This comprehensive tax guide contains 150 pages of tax saving tips. It is completely up to date with all the latest tax changes announced in the March 2022 Spring Statement and all previous Budgets - essential reading for anyone who wants responsible, tried and tested tax planning ideas.
Please click here for more information on this excellent bonus e-book.
What Will I Receive?
- Printed Book Orders - 74 page professionally printed book plus FREE PDF copy (immediate download)
- eBook Orders - 74 page PDF book (immediate download)
- All Orders - A FREE copy of our bonus guide How to Save Tax (immediate download)
- 100% Money Back Guarantee - Full refund if you are not entirely happy with your purchase
- Free Postage - Printed books are posted same day. Postage currently to UK only.
