There are few areas of taxation that do not impact on family or owner-managed companies and their shareholders. Consequently, this book covers a wide range of tax planning matters.
The book summarises the key planning points from the separate viewpoints of the company itself, the shareholders who work for the company (usually as directors), the non-working shareholders and in some instances the employees. Planning checklists are included at the end of all relevant chapters. Numerous worked examples are provided to illustrate the practical tax and commercial implications for a host of typical situations.
Key areas covered include the following
- the various methods of extracting funds from the company;
- remuneration strategies, treatment of employee benefit trusts and the impact of the 'disguised remuneration' legislation;
- the treatment of benefits and expenses, including the company car regime;
- treatment of personal service companies under the IR35 and 'off-payroll-working' regimes;
- a detailed review of the pension regime as it affects owner-managers;
- the main employee share schemes and arrangements
The new edition is updated in line with the relevant 2020 legislative changes including Finance Act 2020 as well as new practical points, emerging case law and developments in HMRC practice.