A fellow director has asked whether his bonus payment can be delayed until after 5 April 2026 to reduce his personal tax bill. Does his plan work and, if so, how does it impact the company’s tax position?
S R Lynn & Co·Blog
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The end of the tax year means one thing - finalising your profit extraction plan. Your director’s loan account is overdrawn but you know you have several months to pay it off. Can you save money by paying it now?
A recent Tribunal case ruled that HMRC’s logic was flawed in dealing with a “what is the supply” challenge. Does this mean you should check that you are charging VAT correctly on your sales if there could be doubt about what you are selling?
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