Efficient Reward Strategies
Each case is individual to the particular circumstances but we aim to ensure your reward package is as tax efficient as possible.
We aim to make your drawings as tax efficient as possible and will:
- Review your shareholding structure to identify scope for payment of dividends
- Structure remuneration and dividends to benefit you and your fellow shareholders
When you run your own business you have the flexibility to extract your reward in a way of your choosing rather than purely as salary. But how do you decide what form this should take?
As an experienced firm of Tax Advisers in Essex, we are able to sit down with you and discuss your options and decide which best suit your needs. This will include some salary so that you have a qualifying year for state pension purposes plus dividends maybe some interest on a loan account and business use of your own property.
We will run through with you your options as regards motor cars, medical and other expenses which can be taxed on you as benefits in kind. Depending upon your level of business mileage and type of vehicle you will need to understand whether the company should provide your car or you do so personally and then complete a mileage log and reclaim costs from the business.
Each case is individual to the particular circumstances and our partners and staff expect to try and ensure that your package is both most appropriate and tax efficient to your needs.
Meet The Experts
In many small companies, the owners are also the directors, and this gives importance to how income is extracted from the company. Important The declaration of a dividend has for many years been a strategy adopted by many small businesses. Traditionally, small...
For many years accountants have advised owner managers to adopt a reward structure of low salary/high dividend when they are operating through a limited company. This nostrum has had a consequent influence on the valuations when we have to value a minority interest in...
Get in touch today
Contact us today to find out how we can help and let us provide a tailored quotation suitable for your business.