Practical Guides
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Practical guide: profit extraction for 2023/24
The tax savings that can be obtained by running a business through a company have vastly decreased in recent years. What potential changes could you make to improve the efficiency of your profit extraction strategy?
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Practical guide: company vs employee purchase of capital equipment
Your business is a company with several employees who wish to work from home, which the directors have agreed to. However, they need to purchase office equipment to be able to work. Are there tax breaks if the employees incur the costs, and is this the best option?
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Practical guide: Using a growth share plan as an alternative to EMI options
A company wants to retain and incentivise a key member of staff. The owners have discussed the enterprise management incentive, but the company is excluded under the legislation. What alternative can offer the same benefits?
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Practical guide: what’s the tax treatment of inherited pensions?
A pension plan is a very tax-efficient way of saving money for later in life. However, savers may die before they can fully utilise their accumulated benefits. What are the key tax considerations in these circumstances?
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Practical guide: when is a PSA worthwhile?
If you provide certain benefits to your employees, a PAYE settlement agreement (PSA) could help with your administration. What are the agreements used for and what do you need to do to set one up effectively?
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Practical guide: are family investment companies still efficient?
With the hike in the corporation tax rate to 25% from 1 April 2023, as well as personal tax changes, is the strategy of holding investments through a family investment company still a tax-efficient solution for wealth accumulation and distribution?
Muir & Addy is a partnership registered to carry out audit work by the Institute of Chartered Accountants in Ireland (ICAI). Chartered Accountants Ireland is the operating name of ICAI.
Details of our audit registration can be viewed at www.auditregister.org.uk, under reference number 223287.
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