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...

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