Extracting further profits in 2023/24
As the end of the tax year approaches, it is prudent for those operating their business as a personal or family company to review the
As the end of the tax year approaches, it is prudent for those operating their business as a personal or family company to review the
The Employment Allowance is an allowance that eligible employers can claim to set against their secondary (employer’s) Class 1 National Insurance liability. The employment allowance
If you operate your business as a personal or family company, you will need to extract some or all of the profits if you wish
For personal and family companies it can be beneficial to extract some profits in the form of a salary. Where the individual does not have
The employment allowance (EA) was introduced from April 2014, potentially cutting every employer’s NIC payments by allowing businesses and charities to offset up to a
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