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Why will there be no corporation tax liability if the entire profits of a business are withdrawn as director’s remuneration
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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