Exploring Tax Efficiency: Benefits in Kind vs. Salary and Dividends

Introduction Historically, the most tax-efficient way for sole directors/owners to withdraw money from their company has been through a mix of salary (up to the employer’s secondary National Insurance Contributions (NIC) limit) and dividends. However, changes since July 2022 have introduced scenarios where taking benefits in kind (BIK) could offer a more favorable alternative. This

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