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Book Review

 
Nigel Eastaway Senior Tax Consultant Chiltern plc reviews Extracting Profit from the Family Company by Roger Jones; Published by LexisNexis; 28pp; price £25
 
I was impressed by the substantial amount of sensible and practical advice which Roger Jones manages to pack into 28 pages in this Tax Digest. He explains the strange if not ludicrous situation which we have now arrived at whereby on an income of £15 000 the tax employee's and employer's NIC for an employee would be £4 528 for 2003–04 compared with £91 for the working shareholder of a small private company. He discusses the background and effective rate of tax applicable to a sole trader company director and shareholder and emphasises that decisions as to whether to extract profit...
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