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T10 - Businesses face "Couples tax" threat
In an unexpected move, the Revenue is now targeting much larger companies under a rule which allowed company directors to save tax by paying a dividend to their spouses. Previously, one-man-band companies would save tax by issuing shares to a spouse and then paying a dividend. The Revenue has already begun reclaiming tax going back 6 years in some cases. Though the Revenue has recently targeted one-man-bands under the rule it has now focused on businesses using "management companies" set up to run a group of small enterprises – an arrangement common under SMEs. If a spouse holds a share, and receives a dividend from the management company, the Revenue is now looking to recoup the tax. |
"He (Mac) has helped me as my practice has expanded from single-handed to a six surgery/8 dentist practice." "Mac is always available to "pick his brains" and has a solution for any problem!" "He always offers sound independent advice on all financial and taxation affairs in a way that is easy to comprehend and follow." "He has helped me through my early associate days and is now proving invaluable in my journey towards practice ownership." "There is never anything I do in business or personal finance without first consulting Mac." |
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