2020 has been a challenging year thus far and many more challenges lie ahead but it has also allowed us time to reflect on what we are doing and how we are doing it. A major challenge for Company Directors is turning company profits into personal wealth. Hard work, business acumen and a little luck along the way, often results in a successful business but then when you try to benefit personally the tax man seems to be the real winner. I once heard the saying “the only thing worse than paying tax is not paying any tax” but the good news is there are ways of transferring profits from your company to your personal ownership in a tax efficient manner.
Get in touch for expert financial advice today. You will be glad you did.