Business Tax Strategies

Take a dividend instead of a bonus from your company – saving both employer and employee NICs.

Incorporate your business – despite the changes in 2004 you can still take advantage of the low rates of corporation tax and the ability to extract profit through dividends.

Ensure business borrowings will attract tax relief – funds borrowed for business purposes obtain full tax relief; your mortgage does not.

Save employers’ NIC – employee costs may be high, but save employers’ NICs by rewarding employees through share incentive plans and pension contributions instead of additional salary or bonuses.

Employ your spouse or partner in your business – pay a justifiable wage and your spouse/ partner can make use of any unused allowances and lower rate bands. They might also accrue entitlements towards a state pension and other benefits.

Reduce the possibility of a tax bill when you leave your business – by discussing your plans with us and drawing up a tax-minimisation exit strategy.