What advisers need to know: SME owner profit extraction

Now that the dust has well and truly settled on the chancellor's Autumn Statement 2022 we can look in detail at what the announced changes mean for SME business owners. In short, it's a mixed bag, which highlights some of the issues associated with having the right strategy for profit extraction. Corporation Tax It's been a bit like the hokey-cokey this one. It's been in, out, but now (after being shook all about) it's back in. According to the figures from when this was first introduced back in the March 2021 Budget, 70% of businesses should be unaffected by these changes. That's beca...