If you run a successful Company, you may often find that there is a surplus of cash and the question arises where best to put this.
Sometimes this money is held in an offshore account. In doing this any interest or investment growth will not immediately appear on the Company’s balance sheet. Of course when the money is returned to the Company the proceeds do need to be reported to the Inland Revenue. However, this does give a Company an opportunity for tax planning. The Company will have the choice to withdraw the proceeds during a tax year that best suits them, such as when profits are low or company expenses are high.
There are many different types of deposit, savings and investment plans that should be considered. If this is something you would like to discuss, please contact us.
