Tax Implications

Acting as Emma’s accountant write a business report in preparation for the forthcoming meeting, dealing with the following: a) A critical discussion of the tax implications of the above matters in preparation for the meeting with Harry next week. The discussions should be based on the information provided, and include all the major business taxes such as NIC, corporation tax, capital gains tax, VAT and the impact on Emma’s personal taxation position. b) Emma also wishes to discuss with her accountant how she can extract the profits from the company in a tax efficient way. In the report identify the various methods available for extracting profits from a company and explain the tax implications for the company and for Emma herself. The report should include the relevant supporting calculations of the income tax, NIC, and corporation tax implications in an appendix attached to it where appropriate…………………………………..

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