Tax update: Spotlight on remuneration planning
Tuesday 31 January 2023
A shareholder/director of an owner managed business could receive up to £19,570 tax free in the 2023/24 tax year and up to £20,570 tax free in 2022/23 if structured appropriately and depending on the individual's circumstances and other income. This can be achieved through a combination of low salary, high interest and dividends and could equate to tax free income of up to £41,140 for couples.