Profit Extraction for Small Company Owners: 2024/25 and Beyond (Jul 24)
Category: Tax | Duration: 2hrs | Tag: VODSUTXUK24D2S1 | Type: Video | Course Level: Intermediate | Speaker: Carl Bayley | Date: 11/07/2024 10:00
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 course, Carl Bayley covers:
- 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?
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 layman and the non-specialist. His particular specialty is his ability to take the weird, complex, and 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 Institute of Chartered Accountants. He has spoken on taxation on radio and television, including the BBC’s ‘It’s Your Money’ program and BBC Radio 2’s Jeremy Vine Show.
Carl began his career as a Chartered Accountant in 1983 with one of the ‘Big 4’ accountancy firms. After qualifying as a double prize-winner, he immediately began specialising in taxation. He worked for several major international firms until beginning the new millennium by launching his own practice, through which he provided advice on a wide variety of taxation issues; especially property taxation, inheritance tax, and tax planning for small and medium-sized businesses, for twenty years, before deciding to focus on his favourite role as author and presenter.
Carl is a former Chairman of the Tax Faculty of the Institute of Chartered Accountants in England and Wales and a member of the Institute’s governing Council. He is also a former President of ICAEW Scotland and a member of the ICAEW Board. He has co-organised the annual Practical Tax Conference since its inception in 2002.
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 Institute of Chartered Accountants. He has spoken on taxation on radio and television, including the BBC’s ‘It’s Your Money’ program and BBC Radio 2’s Jeremy Vine Show.
Carl began his career as a Chartered Accountant in 1983 with one of the ‘Big 4’ accountancy firms. After qualifying as a double prize-winner, he immediately began specialising in taxation. He worked for several major international firms until beginning the new millennium by launching his own practice, through which he provided advice on a wide variety of taxation issues; especially property taxation, inheritance tax, and tax planning for small and medium-sized businesses, for twenty years, before deciding to focus on his favourite role as author and presenter.
Carl is a former Chairman of the Tax Faculty of the Institute of Chartered Accountants in England and Wales and a member of the Institute’s governing Council. He is also a former President of ICAEW Scotland and a member of the ICAEW Board. He has co-organised the annual Practical Tax Conference since its inception in 2002.