by Ruth Clark | Aug 20, 2021 | Tax
How it works One of the most efficient methods of reducing a company’s tax bill and increasing the amount of cash withdrawn at the same time is by paying a salary to a member of the directors’ family. Such members can be the director’s spouse/ civil partner or... 
by Ruth Clark | Aug 15, 2021 | Tax
Dividends to spouses Many one-man companies utilize their directors’ tax-free allowance by paying them a small salary. With proper planning, the director incurs no income tax or National Insurance contributions (NICs), while the company receives corporation tax... 
by Ruth Clark | Aug 7, 2021 | Tax
A Director’s Loan Account (DLA) is “Money taken from your company’s accounts that cannot be classed as salary, dividends or legitimate expenses”. In many cases, Directors are unaware that even owe money to the company. Until the money is repaid...