In recent years, for small companies the Corporation Tax Rate has effectively increased from 20% to 25.07% (small UK business had a 6% rise in tax on profits – including dividend tax!). Whereas, from 2006/07 to 2017/18, the main Corporation Tax Rate (for more...
Many business owners pay their spouse a salary – typically up to the Personal Allowance limit (£11,850 in 2018/19). If the spouse has no other taxable income, they will not pay tax on their salary – and the business owner saves tax (at 19%, 20% or 40%) on the salary...
