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Where Taxpayers and Advisers Meet

Reduction of profits

johnjane
Posts:8
Joined:Wed Aug 06, 2008 2:18 pm

Postby johnjane » Fri Jun 27, 2003 5:47 am

I run a close company with my partner - we are equal joint shareholders. I have a large maintenance liability from my previous marriage.

I would like to transfer profits from me, to my partner without increasing tax liabilities so that my income appears to be lower. Any ideas ?

demetris
Posts:95
Joined:Wed Aug 06, 2008 2:18 pm

Postby demetris » Fri Jun 27, 2003 10:00 am

I am afraid the information you gave is inadequate as I have no info on each shareholders' income levels, methods of profit extraction from the company and their circumstances.

If you are interested in me sending you our newsletter on profit extraction, which is in plain language, please let me know. It will give you some ideas.

Alternatively, you can supply more information if you want some advice.

Demetris Savva BA FCCA
http://www.tax-accounting-london.info
constantinesavva@accamail.com


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