Tax planning ahead of the end of the current tax year (5 April 2022)
February 10, 2022 | Time: | Location: | Category: News
It’s that exciting time of year when the bulbs are peeking through the soil, that attention is drawn to tax planning ahead of the end of the current tax year (5 April 2022).
Pick the phone up to your Tax Advisor, or visit the specialist care home professional advisors who are members of Ownacarehome.com and Buyacarehome.com
Areas to consider include:
- Drawing a tax efficient salary from your company
- Looking at your dividend extraction from the company. Remember that the National Insurance increase of 1.25% will crystallise from 6 April 2022
- Do you have a loan in credit with your company? Remember HMRC reporting requirements if interest is paid on the loan
- Paying rent to yourself on an asset that you own outside of a company can be beneficial for National Insurance, but watch for Capital Gains Tax implications
- Consider any impact of a low remuneration strategy
- Discuss your pension planning with a recognised professional, and consider any impact of a company paying the pension contribution or yourself personally
See below for links to the specialists on the Ownacarehome & Buyacarehome groups -
