What advisers need to know: SME owner profit extraction

A detailed look at profit extraction for SME business owners

clock • 5 min read

In the first of a series of articles unpicking the consequences of last year’s Autumn Statement, Mark Devlin explores how it will affect SME business owners extracting their profits…

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

IHT on pensions: 'We're going to have to muddle along with it until it works'

IHT on pensions: 'We're going to have to muddle along with it until it works'

PIMFA’s Simon Harrington touches on the reality of any changes

Isabel Baxter
clock 21 November 2025 • 1 min read
IHT receipts hit £5.2bn as gifting rumours emerge ahead of Budget

IHT receipts hit £5.2bn as gifting rumours emerge ahead of Budget

Speculation around gifting and trust taxation rules expected

Isabel Baxter
clock 21 November 2025 • 4 min read
Advisers report more clients needing CGT advice after slashed thresholds

Advisers report more clients needing CGT advice after slashed thresholds

Clients needing CGT support doubles to 37%

Isabel Baxter
clock 20 November 2025 • 2 min read