If you are a business owner should you pay yourself a dividend or a bonus? This depends on a number of factors but you should be aware that the position regarding salary versus dividends has been drastically altered with the changes in taxation over the last two years.
Interestingly, the question is no longer just about whether to pay yourself salary or dividends but when to pay them and how much.
What we are suggesting, is that it is essential for you to have strategies in place for examining the most suitable options.
In addition there may be other strategies that you should consider that could be of considerable benefit to you – providing you with opportunities to make massive tax savings through the timing and structure of your remuneration.
If you need tax planning advice, then here at Pareto Lawrence we offer a comprehensive Professional Financial Planning Service offering financial and tax planning services to business owners and private clients.