Long gone are the days when the choice was simply a “wage” or a “salary”. Modern remuneration packages often have to be much more flexible offering tax efficiency for the business as well as motivating improved staff performance and loyalty.
Staff often expect other “non-monetary” benefits to form part of their overall remuneration package and this can include options such as:
Additionally, owner managed businesses can benefit from the tax efficiency of paying out dividends as well as salary. With the introduction of new dividend tax rates, strategy for the withdrawal of funds from a Company has become more complex.
Our tax team can assist you with setting up a remuneration strategy which will benefit all staff from senior management to the shop floor.