Maximise Tax Efficiency for Business Owners with Salary and Dividends
Channel: Robin Waite - Fearless Business
Date: 2023-08-07

Watch the full video here: https://www.youtube.com/watch?v=CogBwCPIhI0

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SUMMARY OF VIDEO

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Welcome to your one-stop-shop for maximising tax efficiency as a business owner! Are you struggling to find the balance between salary and dividends? Say no more, our new video is here to guide you. 💰👍

When it comes to tax efficiency, the traditional wisdom of accountants often aligns with the 'lower earning threshold' approach in the UK, amounting to around 12,500 pounds a year. This approach might have minimal tax implications but does it provide the true value you deserve as a business owner? 🤔💼

In this video, we dissect the conventional method of accounting, illuminating the process of paying a monthly salary, coupled with dividends when you make a profit. We also take you on a nostalgic journey to when small business owners had greater benefits, with a 10,000 pound dividend allowance. 💾📈

Here's what this video offers:

- A deep dive into the UK's lower earning threshold 👀💷
- The conventional 'salary and dividend' approach explained 📚🔄
- The historical context of dividend allowance for small businesses 🏦⌛
- A critique of the conventional approach - is it the best for you? 🤷‍♂️🎯

Whether you're a seasoned business owner or just starting your journey, this video is a treasure trove of insights into tax efficiency. Time to equip yourself with the knowledge to make more informed decisions!

Hit the like button if you found this useful, share with other business owners in your circle, and don't forget to subscribe for more such practical financial advice! 📲🌐

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- Robin Waite