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Tax Tips For Company Directors

**New 2019-20 Edition Released July 2019**


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This special 15,000 + word guide looks at possible tax planning strategies for directors of small or medium-sized companies at each stage of a company's life, from incorporation through to cessation when either the director leaves or the company closes.

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Contents Include:

1. The Beginning – Incorporation

1.1 Income Tax Savings

1.2 Becoming A Limited Company 

1.3 Incorporation Relief

1.4 Entrepreneurs’ Relief And Transfer Of Goodwill

1.5 ‘Hold-over’ Relief 

2. Running A Company

2.1 Withdrawing Payments

2.2 Salary

2.3 National Insurance Contributions

2.4 The Employment Allowance 2.5 Optimal Salary Amount 

2.6 Bonus 

2.7 Timing Of A Bonus Payment 

2.8 Dividends  

2.9 The ‘Dividend Allowance’

2.10 Which Is Best For 2019/20? Salary, Bonus, Dividend Or Combination?

3. Other Methods Of Withdrawing Monies

3.1 Paying A Salary To A Family Member

3.2 Tax Trap - ‘Settlements Legislation’

3.3 How Much To Pay 

3.4 Use Of Home As Office  

3.5 Rent Paid By Company For Use Of Business Premises 

3.6 Benefits In Kind and Expenses 

3.7 ‘Salary Sacrifice’ 

3.8 Other Miscellaneous Benefits 

4. Director’s Loan Account

4.1 Overdrawn DLA 

4.2 Charge To Tax

4.3 Charge To NIC 

4.4 ‘Matching’ Rules 

4.5 Settling The Loan

4.6 Practical Checklist – Directors Loans: 

5. Director’s Pensions

5.1 General Rules

5.2 ‘Directors’ Pension’ 

5.3 Directors And ‘Automatic Enrolment’ 

6. Alphabet Shares And Dividend Waivers

6.1 Alphabet Shares 

6.2 HMRC’s View Of Alphabet Shares

6.3 Dividend Waivers 

6.4 HMRC’s View Of Dividend Waivers 

7. Extracting Cash From The Company on Cessation

7.1 Members’ Voluntary Liquidations (MVL) 

7.2 Phoenix Companies 

7.3 Entrepreneurs’ Relief 

7.4 Associated Disposals – Assets 

8. Succession Planning

8.1 Purchase Of Own Shares By Company 

8.2 Gifting Shares  

8.3 Use Of A Family Trust

8.4 Family Investment companies 


Tax Insider