Hi guys,
I know this is probably too complicated to answer on a forum - I will go and see a financial adviser - but any ideas I get on here would be amazing! (thank you!)
A UK limited company - which will end up with £400k profit in the bank at the end of the next year. What would be the most tax efficient, LEGAL (avoidance NOT evasion! ) way to get as much of that money out of the business?
I'm trying to pay only the 20% corporation tax - or as close to that number as possible.
One idea I had was - maybe have X directors - pay each one £8k - and then pay each dividends of £40k. (How legal would this be?)
I've just started looking into "Employer Financed Retirement Benefit Schemes" - but I think they seem risky, maybe they don't even work any more. They also look like they may be for companies earning BIG money.
Any ideas would be great! Thanks again.
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