Personal Tax Advice
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To understand overdrawn director loan accounts, we first need to cover why they exist. The situation arises most regularly in owner managed businesses where the business owner has been advised that the best way to minimise the tax burden is to draw a minimum salary (£7,020 in 2011/12), and ...
Oct. 26, 2011, 4:37 p.m. | Categories: General
If you are the owner of a small business and you trade through a limited company, it is likely that you are set up with a salary for 2011/12 of around £7,020 per annum (2010/11: £5,700). The remainder of your drawings from the company will then be by way of ...
Sept. 23, 2011, 4:35 p.m. | Categories: General