Dunno if it's been mentioned before but......
A thought struck me during a conversation today. We have the timelines for when these issues are going to hit and are knee deep in discussion around it but no one knows for sure as it's in consultation phase etc etc but....
If the IR35 issue is going to hit won't that mean we will have to do some very careful tax planning to make sure extraction of existing funds in the company is done in the most efficient way possible? Won't it need a bit of work to try and second guess what will happen and possibly start a phased approach to withdrawing funds over the next year or two to make sure we don't end up paying the absolute max tax rates on withdrawing large sums of company cash?
I appreciate it's all up in the air but won't there be a point coming up quickly where people are going to have to start at least planning what to do with their company reserves pretty soon? Trying to do it all in the last tax year before D-Day might be too late for some?
Or am I being thick and we'll just carry on with the dividends as before?
A thought struck me during a conversation today. We have the timelines for when these issues are going to hit and are knee deep in discussion around it but no one knows for sure as it's in consultation phase etc etc but....
If the IR35 issue is going to hit won't that mean we will have to do some very careful tax planning to make sure extraction of existing funds in the company is done in the most efficient way possible? Won't it need a bit of work to try and second guess what will happen and possibly start a phased approach to withdrawing funds over the next year or two to make sure we don't end up paying the absolute max tax rates on withdrawing large sums of company cash?
I appreciate it's all up in the air but won't there be a point coming up quickly where people are going to have to start at least planning what to do with their company reserves pretty soon? Trying to do it all in the last tax year before D-Day might be too late for some?
Or am I being thick and we'll just carry on with the dividends as before?
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