Sarah Bradford offers some year-end tax planning tips for family companies and their directors.
In a family or personal company scenario, there are two strands to year-end tax planning; year-end tax planning for the company, and for the individual directors and shareholders.
If the company has a 31 March year end, the year-end review for the company and associated individuals can be undertaken at the same time. If the company has a different year end, a review will be needed both as the end of the tax year approaches and also in the run up to the company’s year-end.
The company
1. Minimise the company’s profits
The higher the company’s profits, the more corporation tax the company will pay; so any year-end review
