Whilst company directors hung their heads in their hands following the increase in corporation tax rates up to 25% (marginal rate 26.5% for profits between £50,000 and £250,000), we looked at what would be the most tax efficient salary for 2023/24. We will break this down into companies with taxable profits up to £50,000 and […]
Monthly Archives: March 2023
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Tax Briefing Spring 2023 Planning dividends in 2023 Owners and directors of family businesses often take a small salary from the company and any extra funds as dividends. Other family members may also hold shares in the company and receive a dividend each year. The first £2,000 of dividends received by each taxpayer is currently […]