Income Extraction

If you’re a director of a Limited Company there are many legal ways to receive an income apart from being paid a salary. Income Extraction is a specialist field and the qualified Chartered Certified Accountants at Diamond Financial understand it in depth. Here are just some brief examples of ways in which you could be rewarded for all your hard work and move a step closer to the lifestyle you’ve always wanted:

  • Dividends – Still a popular way of receiving income and generally more tax efficient than being paid bonuses

  • Pension contributions – Can help you manage your corporation tax flow without any adverse impact on your personal tax. At Diamond Financial we have the tax expertise to help you make the most of this area

  • Rent – Corporation tax deductible therefore an efficient way of legally extracting income if you use your personally-owned property for business purposes

  • BenefitsThere are certain benefits you can claim for which are tax efficient

  • InterestA director who loans funds to the company is entitled to a reasonable sum of interest and the company also benefits as the interest paid can be corporation tax deductible

  • Family members There can be benefits to employing family members when it comes to spreading the workload and the tax burden


Call Diamond Financial to find out more about income extraction

If you live in Edinburgh or the Lothians and would like to explore other ways in which you can legally and efficiently extract an income from your Limited Liability Company then call Diamond Financial now on 0131 222 9680. Or, if you live in the Borders, call our Duns office on 01361 884466.  

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