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Tax planning for Company Directors

If you are a director of a limited company you are in a unique position to balance personal and company needs. RJP helps company directors to cut their tax bills and ensures clients only pay the legal minimum of tax. We do not recommend tax strategies that could be regarded as aggressive or seen as tax avoidance by HMRC.

During a tax planning review, our tax specialists examine your personal and financial situation to understand how you might be able to reduce both your personal tax rate and your company’s corporation tax rate.

Shareholder directors in owner-managed companies in particular can benefit from a good deal of flexibility over the level and type of their income, by combining salary, dividends and benefits in kind with the careful use of their director’s loan account. Equalisation of income between spouses is also an important tax planning strategy.

Whatever your situation, tax planning can identify the optimum way to structure your financial affairs and legally reduce your taxable income to avoid incurring the highest tax rates.

Legislation changes frequently and our blog features regular articles outlining the many ways company owners can reduce their tax liability and benefit from tax relief opportunities.

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31 July 2020 - Normally an important deadline!

All taxpayers due to make self-assessment tax payments on 31 July 2020 can now delay their payment due to the disruption caused by Coronavirus. This includes self-employed taxpayers and also company directors who pay self-assessment tax on dividend income.

Read more in our coverage of Coronavirus and business support from the Government.