The short answer for business owners who are basic rate taxpayers is that paying dividends is nearly always the better option, regardless of changes in the Corporation Tax rate the company pays. This is because dividends do not attract NICs and offer tax advantages for lower rate taxpayers.
However, unlike paying salaries, the business must be making a profit (after tax) to pay dividends.
If you would like more information, please contact your accountant on 0113 2864486.
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Payroll and Auto Enrolment
Employing people can cause stress for a business owner for many reasons and one of these is payroll. Our teams expect that they will be paid on time and with the correct level of deductions made. We can provide a full payroll service for your business including auto-enrolment, keeping you compliant with your many legal responsibilities.
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Tax Protection
With HMRC becoming more spontaneous with tax investigations we strongly suggest that every business is insured against the cost of investigation. So strongly in fact, that we automatically build it in to our fixed fee agreements. Many of our clients have been very grateful for this insurance when HMRC have come knocking.
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When it comes to supporting small enterprises, helping them grow whilst avoiding regulatory and commercial pitfalls, we have a weath of experience, expertise and a kettle - a very good kettle. If you think we could be a good fit, get in touch to see how we can add value to your business.
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