Following the Autumn Statement which included corporation tax rate increases in April 2023, should you be rethinking your profit extraction strategy for the year?  Head of Payroll Joanne Gibson discusses here. Dividends – first tax increase When the NI rates increased in April 2022, the government introduced a matching increase to the tax rates on...

It can’t have escaped your notice that business owners who pay themselves dividends on top of a small salary are being hit hard by the Budget. If you are in receipt of dividend income in excess of £2,000 the reduction in dividend tax allowance will mean that you will be facing higher tax bills. The...

The questions surrounding the issue of how best to extract profits from a company in a tax-efficient manner remain as popular as ever, in fact something we advise on often. Despite the introduction of the dividend allowance, and the personal savings allowance, extraction by remuneration (salaries) and by way of dividend remain the two most...