Techzone Webinar- 'Owner-Managed Businesses and Pensions'

Join us for our second Techzone webinar of 2024 where Tony Davies, Technical Engagement Consultant, discusses how best SME owners can utilise their profits in a tax-efficient manner. For daily expenses, they often choose between paying themselves a salary/bonus or dividends. Dividends, taxed after corporation tax and at lower rates than income tax on salaries, were once more advantageous. However, recent increases in corporation and dividend taxes, along with cuts to the dividend allowance, have narrowed these benefits. The choice between salary and dividends usually depends on the owner's required income level, and often they use a combination of both. Beyond daily expenses, owners should also consider pension contributions as a way to efficiently manage excess profits. Additionally, SME owners should be aware of various other factors affecting their financial decisions. By attending this webinar you will be able to: • Describe the motivations behind venturing into business and the risks faced. • Explain the considerations regarding salary, dividend and pension contributions. • Summarise the options available for the disposal of a business and some tax reliefs to consider. • Explain corporate investments into collectives or investment bonds and the loan relationship rules.