The various tax allowances available to individuals in 2017/18 mean that it is possible for directors with a substantial credit on their director’s loan account to extract up to £22,500 out of the company and incur no personal tax. This table illustrates how it works: 2017/18 Personal allowance: this is the amount of income an … Continue reading Tax Efficiency and the Directors Loan Account
Tag: Tax allowances
A new allowance which will enable people to access pensions advice in a tax efficient way will commence in April 2017. Under existing rules, if you require advice regarding pensions you will normally have to pay a fee to a Financial Adviser. A new allowance being introduced in April will mean that you will be … Continue reading New Allowance for Pension Advice
If you are interested in the tax allowances for 2014/15, please refer to our Tax Tables: Green & Co 2014/15 Tax Tables If would like to read our summary of the 2014 Budget, then please follow this link: Green & Co Budget Summary 2014 The main issues include: Savings: Reform of ISAs. The current distinction between stocks and shares … Continue reading Budget 2014 and 2014/15 Tax Tables
