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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › question

  • This topic has 1 reply, 2 voices, and was last updated 9 months ago by Tax Tutor.
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  • April 2, 2022 at 11:10 am #652560
    xyzc
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    • Topics: 342
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    Why will there be no corporation tax liability if the entire profits of a business are withdrawn as director’s remuneration

    April 5, 2022 at 12:36 pm #652744
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Director remuneration is an allowable expense for corporate tax purposes and therefore there would be no CT liability – but remember that the director(s) who in this situation are likely to be the owners of the business will suffer personal tax liabilities on the remuneration and the company will have to pay employers NIC.
    See Section 3 of Chapter 26 for the tax implications of extracting the profits of a business.

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