Tax Deductions for Businesses: Is the Remuneration ‘Excessive’?
On the face of it, directors are free to vote on their remuneration as the board sees fit. However, directors should be aware that HMRC may challenge excessive salaries and benefits-in-kind on the basis that they are not ‘wholly and exclusively’ paid for the purposes of the trade. Open to Challenge? HMRC is less likely […]
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