A set of draft company accounts have been prepared and they show that the director shareholders received “unlawful dividends”. What are the tax consequences of this and how can they best be managed? Jane McWilliam provides advice. The last couple of years have been tough with many businesses having had significant contractions in profits compared...

As an alternative to salary or dividends, benefits in kind are a potentially tax-efficient option for directors, especially those of multiple companies. But what’s the advantage and when can you use it? Brona MacDougall takes a closer look. Most tax experts will tell you that dividends are the most tax-efficient form of income for director...