Overview of Using a Company to Save Tax - 2008 Edititon

Conducting your business through a limited company could potentially save you tens of thousands of pounds in national insurance and tax each year.

The main reasons behind this are simple. Firstly, UK income tax rates are far higher than corporation tax rates. Secondly, company directors may pay themselves dividends from the company which are subject to much lower tax rates than any salary income.

Finally, if you have a spouse who is also a director in the company you may split your income, which should also save you a tidy sum in tax.

Using a Company To Save Tax will provide you with all the information you will need in order to confidently and efficiently run your business through a limited company. It is essential reading for:

• Those who currently have an unincorporated business i.e. sole traders and partnerships.

• Those already running a company, and would like to reduce their national insurance, income tax and corporation tax bills.

• Those presently interested in setting up a company, but are as yet unincorporated.

• Anyone in the financial advice business, wishing to advise prospective clients on the benefits of incorporation.

I would like to congratulate you on the excellent guide 'Using a Company to Save Tax'. Clearly written and easy to understand. Thank you for making life simpler Robert Gemmell - Director, Risk Management Europe Ltd.

What Information is Contained in the Guide

This excellent and comprehensive guide is written in an easily digestible, plain English style and all key points are accompanied by clear examples and real-life scenarios. All the relevant subjects are included in the guide, such as:

• Full advice on all aspects of corporation tax.

• Concise explanation of how previous Budgets have affected corporation tax.

• Benefits and drawbacks of using a company to run your business.

• Clear comparisons of income tax versus corporation tax.

• The effect of the capital gains tax (and other) changes announced in the 2007 Pre Budget Report on incorporating your business

• How national insurance can be avoided altogether by company directors.

• How dividends are taxed.

• How dividends may be utilised to save thousands in tax.

• How to stay on the right side of the taxman whilst paying dividends.

• Comprehensive examples of how to use incorporation to your advantage.

• How to pay even less tax by splitting income with your spouse, and any traps to be aware of whilst using this strategy.

• How reinvesting company profits can save you tens of thousands of tax pounds.

• How to pay absolutely no capital gains tax, stamp duty and VAT by incorporating an existing business.

• Some of the tax advantages and disadvantages of using an offshore company.

• A complete set of tables which show precise tax savings at every level of profit for ALL taxes, including corporation tax, income tax and national insurance.

To see the full contents of this book Click here

To read this books Amazon reviews Click here

About the Author

The Author of Using a Company to Save Tax is our site Editor, Lee Hadnum. Lee is a rarity among tax advisers having both legal and chartered accountant qualifications. After qualifying a prize winner in the Institute of Chartered Accountants exams, he also went on to become a chartered tax adviser (CTA).You can ask Lee online tax questions via our Fast Tax Advice service

Ordering Information

We use Worldpay's renowned secure payment server to process payments. Worldpay is part of the Royal Bank of Scotland Group.

All customers will receive a complimentary electronic copy of our comprehensive tax guide 'How to Save Tax 2007/2008' - worth £19.95.

You will have the option at checkout of receiving a free electronic copy of Using a Company to Save Tax to read immediately.

What does the book cost?

The printed book costs £24.95.

Postage and Packaging is only £1.50 no matter how many items you order.

You can also order by telephone on 0845 111 0743 Mon-Fri 9am-5pm (Please quote reference: WealthProtectionReport)

Although you can purchase this book without signing up to WealthProtectionReport.co.uk if you join us you can read unique tax planning articles and obtain online tax guidance from the author of this book!

You may also be interested in...

Business Tax Books Selling a Business If you're selling your business or company this is an essential read. The tax at stake could be significant and this book goes through in detail the tax planning opportunities available to you to enable you maximise your net disposal proceeds. It covers lots of issues from straightforward tax reliefs such as taper relief and rollover relief to more complex reconstructions, hive ups and share reorganisations. . . . keep reading Using a Company to Save Tax Find out how to use a company to slash your UK tax bill. Using a company can ensure your income is taxed at the lower corporation tax rates (as opposed to income tax). It's not straightforward though and this book tells what you need to know when considering whether to use a UK company including how to set up your company and extract profits tax efficiently . . . keep reading Salary versus Dividends If you own a company you'll know how important it is to extract profits in the most tax efficient manner as the right decision can easily save you thousands. Dividends are free of national insurance but not tax deductible. Bonus/salary payments are taxed at up to 40%, subject to NIC but are tax deductible. Ploughing through the numbers and taking account of all the other factors can be very time consuming as well as expensive if you pay an accountant to do it. This book explains the tax issues in detail and includes lots of schedules showing the precise tax implications for various profit extraction strategies. . . . keep reading