Course Details

Any shareholder or director running a successful, profitable business will want to know how they can extract the money they are making, from the company, in a tax-efficient manner. Without careful, proactive planning, and an awareness of relevant legislative changes, opportunities can be missed, and costly mistakes made. As accountants and advisers, your clients are relying on you to assist them with identifying profit extraction strategies that work for them, and to advise them on the impact of any tax changes, as they happen. This course will provide you with an overview of the most common profit extraction strategies, bring you up to speed on legislative changes affecting profit extraction in 2023/24, and give you some useful points to consider when talking to your clients, or in relation to.


In this course, Barry Jefferd discusses how directors and shareholders can extract money from their company in a tax-efficient manner, considering the impact that recent tax and legislative changes have had, whilst comparing salary and dividends as two key income streams.


The following key areas will be covered during the session

  • The importance of planning proactively, in respect of profit extraction
  • Salary and dividends as two key income streams, and the implications of taking one or the other, or a combination of the two, from a business.
  • The tax treatment of salary and dividends for the individual and business, with reference to changes for 2023/24 – inc. interaction between dividends and Corporation Tax
  • Full profit extraction and incorporation
  • Brief insight into other profit extraction strategies – i.e., benefits, expenses and pension contributions

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CPD Course Speaker

George Hay Chartered Accountants

Barry Jefferd

Barry Jefferd is the Taxation Partner at George Hay Chartered Accountants. He is a Chartered Accountant, Chartered Tax Adviser and member of the Society of Trust and Estate Practitioners.

He advises on the complete range of taxes, with a particular interest in Capital Gains Tax, Inheritance Tax, and property and land transactions. Barry lectures widely on taxation on behalf of Taxation Institutes who are providing training for other professionals and is the co-author of two publications; Tax planning, a joint publication between the UK200 Group and the Daily Telegraph, and the Innovation Handbook, endorsed by the Intellectual Property Office.

He is an expert in Share and Business Valuations and has appeared in both the High and County Courts as an expert witness. Barry was also one of the first accountants in the country to pass the Institute of Chartered Accountants in England and Wales’ probate qualification. He is now director of GH Probate Ltd, our company providing probate services, and also a director of GH Wills Ltd, our company providing Will writing services.

As well as his services to clients, Barry offers a tax consultancy service for smaller practices throughout the UK, as well as advising on one off tax problems for other accountants and taxpayers.

He is currently Vice President of the Association of Tax Technicians (ATT), the country’s leading professional body dealing with tax compliance.