Profit Extraction is a key area of tax planning for all business owners in order to know how business profits can be extracted efficiently. It can be challenging to understand the best way to minimize tax liabilities but Makesworth Accountants are experts in this area and will provide you with the best possible solution.
How Can Makesworth Help?
Profit Extraction can be carried out in many ways. All of the options mentioned below form part of the mix. Other more unusual options can also be used.
We provide reliable advice on the efficient minimization of PAYE and National Insurance (NI) that can be incurred by the business with minimum salaries for directors.
- Pension Contribution
Planning and advice for pensions in terms of long-term investment for retirement has been quite beneficial for clients, being tax-efficient along with saving for retirement.
Dividends play a crucial role as the most efficient way to extract profit for business owners.
- Venture Capital Trusts
As per the government-backed schemes, income tax relief is provided at 30% of the amount invested, which is a great option for profit extraction.
- Property Investment
We will guide you on various property investment options as a tax-efficient means of profit extraction.
- Re-investing in the business
We will analyse and guide you on the options of re-investing in your business.
Getting the right restructuring of shareholders could play a huge role in terms of extracting profits efficiently. Here, the right mix at the right time for any kind of profit extraction will play a crucial role in tax planning for all business owners.
This is an area that all business owners need to take control of, as the savings extracted can be significant. Makesworth will ensure that you receive as much profit as possible for your business.