Extracting Cash from your Company

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RSM is a leading provider of audit, tax and consulting services to middle market leaders, globally.
Running a fashion business takes a lot of investment – usually composed of personal time, money and effort. As a company grows, business owners need to decide the right time to start paying themselves back to rebuild any personal investment. If a business owner trades through a company, the profits that the company makes will be subject to corporation tax at 20% (reducing to 19% from 1 April 2017 and 18% from 1 April 2020). There is no more tax to pay until such time as a business owner decides to take money out for personal use. At this time, the question then becomes: what are the ways in which a business owner can extract cash from their company?

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