Small company owners face a large number of tax changes over the next couple of years.
This brand new guide explains these changes in plain English and shows you how to make the most of them with sensible tax planning.
Tax Planning for Directors is essential reading for ALL company owners, including owners of property investment companies.
The author, Carl Bayley FCA, 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.
The guide explains how these changes will affect your profit extraction (salaries, dividends etc) and steps you should take before the end of the current tax year to save money.
It also explains what steps your company should take before the end of its own tax year to reduce its tax bill.
The tax changes include:
- An increase in corporation tax
- A five year freeze to income tax allowances and thresholds
- Higher national insurance rates (the new Health and Social Care Levy)
- An increase in dividend tax rates
- A further extension to the £1 million annual investment allowance
- A temporary 130% super deduction for investment spending