Your Money - Your Future
Corporate Tax Planning
As the owner of your own business, it is important to ensure your remuneration is optimised effectively for tax. At the same time, you may well be taking dividends to reduce your personal tax position, so this will be a major consideration during any Corporation Tax planning.
The most widely utilised Corporation Tax planning tool is making employer pension contributions, as they are an allowable expense. This also has the benefit of extracting capital from your business in a tax-efficient manner.
Other Corporation Tax planning methods include:
- Ensuring any investment income is structured tax efficiently
- Claiming all available allowances
- Making provisions against stock and debtors
- Reinvestment of profit back into the business
- Investment for Diversification purposes