Month: May 2020

Profit extraction in 2020/21 – What is the optimal salary?

Profit extraction in 2020/21 – What is the optimal salary?

A popular tax-efficient profit extraction strategy used by personal and family companies is to take a small salary and extract further profits as dividends. Where this approach is adopted, the starting point is to determine the optimal salary. While this will depend on personal circumstances and there is no excuse for not doing the sums, …

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