Incorporation for OMBs - The Tax Implications Explored

Introduction

The effect of the national insurance rises in 2022 and the corporation tax rise in 2023 is that owner managed businesses (OMBs) will face an effective combined tax rate on income and corporate profits of over 54%. This is based on higher rate taxpayers. Additional rate taxpayers will face an even higher charge.

This virtual classroom session looks at the comparisons between the taxation of incorporated and unincorporated businesses and explores whether the case of incorporation for OMBs has now passed.

The session not only looks at the income tax, national insurance and corporate tax issues but also at inheritance tax and the issues for close companies.

It will also look at the responsibilities that directors undertake, and the sanctions of the companies act 2006.

Attending this session will assist you as to whether you should be advising your clients to incorporate or not.

What You Will Learn

This live and interactive online seminar will cover the following:

• The process of incorporation
• Income tax
• National Insurance
• Capital Gains Tax
• IHT
• Annual Tax on Enveloped Dwellings (ATED)
• Property companies
• Investment companies

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.