TAX PLANNING for INDIVIDUALS
Updated: Apr 6
Ways to reduce Income Tax for Employees and Service Directors and at the same time Employers gets full deductions of expenses.
Out of many ways of tax planning, in this article we going to discuss on the use of available tax benefits to do Tax Planning. One of the tax benefits available is "benefit-in-kind" (BIK). We illustrate here on how the proper planning on BIK can create a tax-saving option for employees and at the same time there will be no loss to employer.
Service Director? - is a director who holds 5% and less of the ordinary share capital of a Company.