Company tax - Profit extraction


Everyone's favourite subject. But you'll need the correct paperwork to extract profit in the most tax-efficient ways


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Miscellaneous
{"status":500,"message":"DMS error: 500","data":null}... Read more
16 Apr 2018
Credits: 1
doc
Checklist
Dividend checklistWhen you want to pay a dividend, there are a number of considerations to take into account to ensure it is valid. Our checklist will help you to establish that your dividends are up to scratch.DividendsDividends are amounts paid to ... Read more
12 Oct 2017
Credits: 1
doc
Letter
Director's loan account write-off letterAn overdrawn director's loan account can be cleared by the company if the directors or shareholders agree to write the loan off. However, it must get the paperwork right.Reporting requirementsWhere a director or ... Read more
01 Sep 2016
Credits: 1
doc
Agreement
Director's loan agreementA director shareholder doesn't have to sign a loan agreement when they borrow money from their company. The terms of borrowing can be agreed orally or just implied. However, in certain situations a director is required by compa... Read more
01 Sep 2016
Credits: 1
doc
Letter
Dividend voucherWhen your company pays a dividend it should provide each of the receiving  shareholders with a dividend voucher as a receipt for their records. Issue a voucherWhile not strictly necessary under company law, it's advisable for a compan... Read more
30 Jun 2016
Credits: 1
doc
Document
Interest payable on loan account minuteWhere a director's loan account is in credit, the board can agree to pay interest on the balance. This should be recorded in a board minute.When to use this board minuteIt's advisable to set out the terms and cond... Read more
21 Mar 2014
doc
Form
Director's loan account record A taxable benefit in kind may arise where a director is provided with a loan, either interest free or at a rate of interest below HMRC's official rate (3% for 2016/17). Use this document to calculate what, if anything, you... Read more
21 Mar 2014
doc
Agreement
Licence agreementWhere your company makes a payment to you in return for being allowed to use your home or other property for its business, you should draw up an agreement to formalise the arrangement. A licence agreement, rather than a lease, provid... Read more
26 Nov 2013
Credits: 1
doc
Document
Dividend waiverA dividend waiver is a document produced by a sharelder to show that they have given up (waived) their right to one or more dividends that they would otherwise be entitled to. A waiver can be used in income tax and inheritance tax plan... Read more
13 Sep 2009
Credits: 1
rtf
Miscellaneous
Year-end bonus board minuteBonuses for employees or directors declared after the year-end may only be accrued in the balance sheet if there was a "legal or constructive obligation at the balance sheet date" to make such payments. All other bonuses decl... Read more
08 Aug 2009
Credits: 1