Richard Curtis suggests possible alternatives to salary and dividends. Many in business will trade through the medium of a limited company and the directors will generally be remunerated by the payment of dividends or salary. The former are taxed on the recipient and must be paid out of profits subject to corporation tax, while the […]
Not the Usual Suspects! Read More »
Are you worried about adding pension contributions to the tax return? Retirement planning is an essential aspect of personal finance. A pension plan is one of the most important components of a financial retirement plan. A pension plan is a scheme in which an individual saves and invests for their retirement. It’s crucial to consider
How to Add Pension Contributions to my Tax Return? Read More »
Lets Points out how a company could benefit a business, and what directorship entails. When deciding whether to incorporate a business, tax is clearly a major factor; but it is not the only one, as a company is a separate legal entity – a body corporate, and one which needs to be properly managed by
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The personal allowance is set at £12,570 for 2023/24. However, not everyone is able to benefit from the personal allowance. A taper applies which gradually reduces the personal allowance until it is lost. The taper applies when adjusted net income exceeds £100,000. It operates by reducing the personal allowance by £1 for every £2 by
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