Course Details

Extracting funds from the company tax efficiently is an issue that faces almost every small company owner. And it’s a key piece of tax planning every practitioner needs to be aware of, and keep up to date with. The goalposts are ever shifting. Even before we had a general election, National Insurance rates had dropped dramatically, while Corporation Tax had increased significantly. What does it all mean for the small company owner desperately trying to hang on to as much of their hard-earned profits as they can, and what does the future hold post-election? As the people shareholder/directors turn to for advice, practitioners need to know the answers.

 

In this session, Carl Bayley will cover:

• Recent changes that impact tax efficient profit extraction in 2024/25

• Salary versus Dividends: how have the changes tipped the balance, when are salaries more tax efficient now?

• Other alternatives to salary or dividends: rent, interest, and pension contributions

• What does the future look like: should small company owners make hay while the sun shines?

 

 

By attending this session, delegates will be able to advise company owners on their most tax-efficient profit extraction strategy for 2024/25 and provide some insight into the future position.

 

 

The session will be of benefit to general practitioners, tax advisers, accountants working in small businesses, and accountancy students.

 

Course Level: Intermediate

CPD Course Speaker

BSc FCA, Author and Presenter

Carl Bayley

Carl Bayley is the author of a series of plain English tax guides designed specifically for the layperson and the non-specialist (available from www.taxcafe.co.uk). His particular speciality is his ability to take the weird, complex, inexplicable world of taxation and set it out in the kind of clear, straightforward language taxpayers themselves can understand. Carl takes the same approach when speaking on taxation, a role he frequently undertakes with great enthusiasm, including his highly acclaimed annual ‘Budget Breakfast’ for the ICAEW. He has spoken on taxation on radio and television, including the BBC’s ‘It’s Your Money’ programme and BBC Radio 2’s Jeremy Vine Show. Carl is a past Chairman of the Tax Faculty of the ICAEW and former member of the Institute’s governing Council and Board. Aside from his tax books, Carl is an avid creative writer. His first novel, Trinity of Souls, was published in 2024, with his second, Destiny of Souls, following in March 2025. When he isn’t working, he takes on the equally taxing challenges of hill walking and horse riding: his Munro tally is now 106 and, while he remains a novice rider, his progress is cantering along nicely. Carl lives in the Scottish Borders, where he enjoys spending time with his partner, Linda.