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Company Directors - Tax-efficient Payment Strategies

Legally safe ways to save tax on all your dealings as a company director

A Tips & Advice book about... 

In a nutshell

This fully updated book shows how to increase your net income and stay off HMRC’s radar through proper tax planning. It features legally safe ways to save tax on all your dealings as a director. Instead of focusing on schemes, it explains in simple to follow steps how to claim all your entitlements.

In detail

In recent years the government has taken an increasingly aggressive approach to tax-saving schemes and arrangements. To ensure HMRC doesn’t run off with the lion’s share of your hard-earned income, our team of experts have put together this book. It covers:

  • Tips to make the best use of remuneration strategies such as
    • Salaries, dividends and benefits
    • Pensions
    • Company loans
    • And much more...
  • Vital strategies to minimise major taxes such as
    • Income tax
    • National Insurance
    • Capital gains tax
    • Inheritance tax

In this book you’ll find all the key facts and see how to use them through worked examples. It will help you exploit all the loopholes and reduce the amount of tax payable.

We've created this Tips & Advice book especially for... 

Company directors that want to:

  • Minimise tax and NI in a legitimate way
  • Increase their net income
  • Make the best use of remuneration strategies

Tax advisors that want to:

  • Help their clients take income from their company in the most tax-efficient ways

In this Tips & Advice book you'll read about...

1. Salaries

1.1. A director’s perspective

1.2. Minimum salary, the NMW and the NLW

1.3. Salary waiver

1.4. Spouse’s/family members’ salary

1.5. Year-end bonus

1.6. National Insurance employment allowance

1.7. Key points

2. Benefits and expenses

2.1. A director’s perspective

2.2. Tax relief for the company

2.3. School fees

2.4. Moving home

2.5. Cheap loans

2.6. Second company car

2.7. Is a van cheaper?

2.8. Computers, etc.

2.9. Childcare vouchers

2.10. Travel and subsistence costs

2.11. Trivial and minor benefits

2.12. Key points

3. The use (and abuse) of dividends

3.1. A director’s perspective

3.2. Timing payments of dividends

3.3. Dividend waivers

3.4. Separate classes of shares

3.5. Dividend income for a spouse

3.6. Dividend income for children

3.7. Key points

4. Pension scheme strategies

4.1. The director’s perspective

4.2. The tax-advantaged pension scheme

4.3. Corporation tax relief for your company

4.4. Salary sacrifice option

4.5. Contribution without earnings

4.6. Ownership of the company’s assets

4.7. Pension fund borrowings

4.8. Contribution for a spouse

4.9. Key points

5. Financing the company

5.1. The director’s perspective

5.2. Claiming interest on loans to buy shares

5.3. Company borrows to acquire assets for your use

5.4. Interest on shareholder loans to the company

5.5. Seed enterprise investment scheme

5.6. Key points

6. Capital allowances

6.1. A director’s perspective

6.2. Timing

6.3. Assets specifically qualifying for a 100% tax deduction

6.4. Key points

7. Buying another company

7.1. The director’s perspective

7.2. Assets or shares?

7.3. Allocation of purchase consideration

7.4. Hive-downs

7.5. Tax due diligence

7.6. Insist on a tax indemnity

7.7. Losses

7.8. Borrowing costs

7.9. Stamp duty

7.10. VAT

7.11. Buy-to-sell shares

7.12. Termination payments

7.13. Deferred consideration

7.14. Key points

8. Reorganising shares

8.1. The director’s perspective

8.2. Gifts of shares to spouse

8.3. Gifts of shares to family members, employees, etc. 

8.4. Gift holdover relief

8.5. Preventing unnecessary employment tax charges

8.6. Purchase own shares

8.7. Key points

9. Succession planning

9.1. The director’s perspective

9.2. Preserving business property relief

9.3. Passing shares to the next generation

9.4. Pre-owned assets tax (POAT)

9.5. Business premises held by you

9.6. Key points

10. Selling your company

10.1. The director’s perspective

10.2. Timing

10.3. Sale of assets and trade

10.4. Sale of shares

10.5. Pre-sale tax planning strategies

10.6. Deferred consideration

10.7. Using a profit warranty

10.8. IHT

10.9. Warranties and indemnities

10.10. Anti-avoidance

10.11. Key points

11. Winding up your company

11.1. The director’s perspective

11.2. Capital distribution

11.3. Availability of entrepreneurs’ relief (now business asset disposal relief)

11.4. Last minute dividend?

11.5. Phoenix companies

11.6. Key points

12. Going offshore

12.1. The director’s perspective

12.2. Your own offshore accounts/assets

12.3. Your company’s offshore interests

12.4. Costs and compliance

12.5. Offshore jurisdictions

12.6. Offshore friends

12.7. Keeping secrets

12.8. Benefiting from the arrangement

12.9. When selling your UK company

12.10. Key points

13. Trusts

13.1. The director’s perspective

13.2. The trusts tax regime

13.3. Use of trusts

13.4. Tax implications of creating a trust

13.5. Types of trust

13.6. Key points

14. Income tax planning

14.1. Introduction

14.2. What’s tax free?

14.3. Getting your allowances

14.4. Avoiding the high income child benefit tax charge

14.5. Children’s income

14.6. Overseas income and offshore bonds

14.7. Independent taxation

15. Capital gains tax planning

15.1. Introduction

15.2. What is free from capital gains tax?

15.3. How it works

15.4. Entrepreneurs’ relief (now business asset disposal relief)

15.5. Losses and gains

15.6. How to avoid the bed and breakfasting rules

15.7. Flipping between your main residence and your second home

15.8. Selling your garden

15.9. CGT and death

15.10. Further timing issues

15.11. Enterprise investment scheme (EIS) and holdover (deferral) schemes

15.12. Seed enterprise investment scheme (SEIS)

16. Inheritance tax planning

16.1. Introduction

16.2. What is tax free?

16.3. The nil rate band

16.4. The seven-year rule and taper relief

16.5. Gifts with reservation

16.6. Keeping value outside your estate

16.7. Skipping a generation

16.8. Two nil rate bands for spouses

16.9. Properly drafted wills

16.10. Changing someone’s will after they have died

16.11. The use of trusts

16.12. Reduce your IHT bill by giving to charity

17. National Insurance planning

18. Year-end tax planning

19. Appendix

The Scottish tax rates





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