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PETER RAYNEY looks at future cash extraction for owner-managed companies under the 50% super tax regime
KEY POINTS
- How should profit be extracted from a limited company?
- The tax principles of bonus or dividend payments.
- Comparative rates for 2009/10 and 2010/11.
- Dividend planning before 6 April 2010.
- The relevance of income splitting and beneficial loans.
After the 2009 Budget many successful owner-managers were left feeling decidedly uncomfortable.
Despite Mr Darling’s economic justifications the introduction of a super tax rate of 50% from 6 April 2010 marked an ominous return to the ‘old Labour’ ethos of taxing the rich ‘until the pips squeaked’.
And with the unprecedented level of government debt many predict that it’s unlikely to end there.
Because of the relatively haphazard way in which changes have been made to our company/personal tax regime we now have a system where the overall rates...
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