The business owner at tax year end

Last Updated: 26 Jan 23 97 min watch

Event summary

Over the last couple of years the cohort that has perhaps suffered most from tax changes are owner-managed business people.

With increased dividend tax rates, a squeeze on the dividend allowance, a substantially lower additional rate threshold and increased corporation tax either starting to bite or on the horizon, most if not all owners will be impacted to some extent.

For many business owners, Tax Year End is a time to take stock of their financial years and make final decisions on their remuneration. Many may well have investments held within their business that may need attention.

Les Cameron (Head of Technical, M&G Wealth)
Graeme Robb (Senior Technical Manager, M&G Wealth)

On this event the M&G Wealth Technical Team looked at the current tax landscape and what it means for those business owners.

90 minute video (approximately)     I     Structured CPD accredited by CII and CISI 

Learning outcomes

By the end of this session, you will be able to:

  • Describe the tax treatment of the different methods of profit extraction
  • Evaluate the impact of corporation tax changes on corporate investments
  • Evaluate the planning and advice considerations when advising business owners

Claiming your CPD

1. The main rate of corporation tax for period sending after April 2023 is:

a) 19%

b) 20%

c) 25%

d) 26.5%

 

2. A company using historic cost accounting accounts for investment bond gains:

a) by taxing the growth on an annual basis

b) by taxing the gain when a withdrawal is made

c) by taxing the annual growth and when the bond ends

d) by ignoring any withdrawals up to 5% of the original premium

 

3. Employer pension contributions attract:

a) Income Tax Relief

b) Capital Gains Tax Relief

c) Corporation Tax Relief

d) IHT Relief

 

4. Bob has received £2,000 of dividends. How much tax do they cause?

a) £0

b) £675

c) £175

d) It depends on his wider income and family circumstances

1. The main rate of corporation tax for period sending after April 2023 is:

a) 19%

b) 20%

c) 25%

d) 26.5%

 

2. A company using historic cost accounting accounts for investment bond gains:

a) by taxing the growth on an annual basis

b) by taxing the gain when a withdrawal is made

c) by taxing the annual growth and when the bond ends

d) by ignoring any withdrawals up to 5% of the original premium

 

3. Employer pension contributions attract:

a) Income Tax Relief

b) Capital Gains Tax Relief

c) Corporation Tax Relief

d) IHT Relief

 

4. Bob has received £2,000 of dividends. How much tax do they cause?

a) £0

b) £675

c) £ 175

d) It depends on his wider income and family circumstances

Before collecting your certificate please take a moment to provide us feedback on this session, please email prudential.distribution.team@prudential.co.uk

Complete the form below and we’ll email your CPD confirmation to you. Please use the email address that you would usually use when making contact with us.

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