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Using a Company to Save Tax ...
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Conducting your business through a limited company could
potentially save you tens of thousands of pounds in national
insurance and tax each year.
The main reasons behind this
are simple. Firstly, UK income tax rates are far higher than
corporation tax rates. Secondly, company directors may pay
themselves dividends from the company which are subject to much
lower tax rates than any salary income.
Finally, if you have a
spouse who is also a director in the company you may split your
income, which should also save you a tidy sum in tax.
Using a Company To Save Tax
will provide you with all the information you will need in order
to confidently and efficiently run your business through a
limited company. It is essential reading for:
- Those who currently have
an unincorporated business i.e. sole traders and partnerships.
- Those already running a
company, and would like to reduce their national insurance,
income tax and corporation tax bills.
- Those presently
interested in setting up a company, but are as yet
unincorporated.
- Anyone in the financial
advice business, wishing to advise prospective clients on the
benefits of incorporation.
"I would like to
congratulate you on the excellent guide ‘Using a Company to
Save Tax’. Clearly written and easy to understand. Thank you
for making life simpler."
Robert Gemmell - Director, Risk Management Europe Ltd.
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This excellent and
comprehensive guide is written in an easily digestible, plain
English style and all key points are accompanied by clear
examples and real-life scenarios. All the relevant subjects are
included in the guide, such as:
- Full advice on all
aspects of corporation tax.
- Concise explanation of
how previous Budgets have affected corporation tax.
- Benefits and drawbacks
of using a company to run your business.
- Clear comparisons of
income tax versus corporation tax.
- How national insurance
can be avoided altogether by company directors.
- How dividends are taxed.
- How dividends may be
utilised to save thousands in tax.
- How to stay on the right
side of the taxman whilst paying dividends.
- Comprehensive examples
of how to use incorporation to your advantage.
- How to pay even less tax
by splitting income with your spouse, and any traps to be
aware of whilst using this strategy.
- How reinvesting company
profits can save you tens of thousands of tax pounds.
- How to pay absolutely no
capital gains tax, stamp duty and VAT by incorporating an
existing business.
- Some of the tax
advantages and disadvantages of using an offshore company.
- A complete set of tables
which show precise tax savings at every level of profit for
ALL taxes, including corporation tax, income tax and national
insurance.
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The
Author of Using a Company to Save Tax is Lee Hadnum. Lee is
a rarity among tax advisers having both legal and chartered
accountant qualifications. After qualifying a prize winner
in the Institute of Chartered Accountants exams, he also
went on to become a chartered tax adviser (CTA). Having
worked in Ernst & Young's tax department for several years
Lee now has his own tax consultancy. He is author of a
number of our tax guides and provides personalised advice
through our popular Question & Answer Service. |
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