{"id":1911,"date":"2015-04-01T09:18:00","date_gmt":"2015-04-01T09:18:00","guid":{"rendered":"http:\/\/my-brains.co.uk\/jackross\/?p=1911"},"modified":"2015-04-01T09:21:50","modified_gmt":"2015-04-01T09:21:50","slug":"smes-in-profit-at-2007-levels","status":"publish","type":"post","link":"https:\/\/my-brains.co.uk\/jackross\/smes-in-profit-at-2007-levels\/","title":{"rendered":"SMEs in profit at 2007 levels"},"content":{"rendered":"<p><strong>The number of small businesses that reported profits over the last 12 months has returned to 2007 levels, according to the government&#8217;s Small Business Survey.<\/strong><\/p>\n<p>The annual survey conducted by the Department for Business, Innovation and Skills showed that 78% of businesses reported making a profit or surplus this year, with 40% saying their turnover is greater now than 12 months ago.<\/p>\n<p>This is the highest level of profitable firms since the financial crisis hit in 2007.<\/p>\n<p>Almost a fifth of firms sought external finance to bolster working capital or cashflow in 2014, down from 24% in 2012. A third of employers expect to increase their staff in the next year.<\/p>\n<h2><span style=\"color: #980100;\">Extracting your company profits<\/span><\/h2>\n<p>There are a number of strategies available for businesses that want to efficiently extract their company profits:<\/p>\n<h3><span style=\"color: #980100;\">Directors&#8217; salaries and bonuses<\/span><\/h3>\n<p>Paying yourself less than \u00a38,060 (for 2015\/16) will ensure that you avoid 13.8% employer national insurance contributions (NICs), while paying more than \u00a35,965 will allow you to qualify for the state pension. Taking a salary between these figures will also ensure that you remain within your personal allowance.<\/p>\n<h3><span style=\"color: #980100;\">Dividends<\/span><\/h3>\n<p>A dividend is a payment that can be made to a company&#8217;s shareholders in order to distribute a proportion of the profits. NICs are not payable on dividends which can save a company a large expense. They do however attract corporation tax and negate your personal allowance.<\/p>\n<h3><span style=\"color: #980100;\">Reinvesting<\/span><\/h3>\n<p>Choosing to reinvest your profits back into the company can be used to reduce your corporation tax bill. Reinvesting the proceeds of any asset sale and using the &#8216;rollover relief&#8217; can also reduce capital gains.<\/p>\n<p><strong><em>Get in touch today to discuss extracting profit from your business on 0161 832 4451 or email<a title=\"email\" href=\"mailto:info@jackross.co.uk\"> info@jackross.co.uk<\/a>.\u00a0<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The number of small businesses that reported profits over the last 12 months has returned to 2007 levels, according to the government&#8217;s Small Business Survey. The annual survey conducted by the Department for Business, Innovation and Skills showed that 78% of businesses reported making a profit or surplus this year, with 40% saying their turnover&hellip;&nbsp;<a href=\"https:\/\/my-brains.co.uk\/jackross\/smes-in-profit-at-2007-levels\/\" class=\"\" rel=\"bookmark\">Read More &raquo;<span class=\"screen-reader-text\">SMEs in profit at 2007 levels<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","neve_meta_reading_time":""},"categories":[3],"tags":[69],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SMEs in profit at 2007 levels - Manchester Chartered Accountants<\/title>\n<meta name=\"description\" content=\"The number of SMEs reporting profits over the last 12 months has returned to 2007 levels, according to the government\u2019s Small Business Survey\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/my-brains.co.uk\/jackross\/smes-in-profit-at-2007-levels\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SMEs in profit at 2007 levels - Manchester Chartered Accountants\" \/>\n<meta property=\"og:description\" content=\"The number of SMEs reporting profits over the last 12 months has returned to 2007 levels, according to the government\u2019s Small Business Survey\" \/>\n<meta property=\"og:url\" content=\"https:\/\/my-brains.co.uk\/jackross\/smes-in-profit-at-2007-levels\/\" \/>\n<meta property=\"og:site_name\" content=\"Manchester Chartered Accountants\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/jackrosstax\" \/>\n<meta property=\"article:published_time\" content=\"2015-04-01T09:18:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-04-01T09:21:50+00:00\" \/>\n<meta name=\"author\" content=\"Jack Ross\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jack Ross\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/my-brains.co.uk\/jackross\/smes-in-profit-at-2007-levels\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/my-brains.co.uk\/jackross\/smes-in-profit-at-2007-levels\/\"},\"author\":{\"name\":\"Jack Ross\",\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/#\/schema\/person\/d65ae99f63f346e53c611cb62a38c818\"},\"headline\":\"SMEs in profit at 2007 levels\",\"datePublished\":\"2015-04-01T09:18:00+00:00\",\"dateModified\":\"2015-04-01T09:21:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/my-brains.co.uk\/jackross\/smes-in-profit-at-2007-levels\/\"},\"wordCount\":280,\"publisher\":{\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/#organization\"},\"keywords\":[\"SME profits\"],\"articleSection\":[\"Economy\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/my-brains.co.uk\/jackross\/smes-in-profit-at-2007-levels\/\",\"url\":\"https:\/\/my-brains.co.uk\/jackross\/smes-in-profit-at-2007-levels\/\",\"name\":\"SMEs in profit at 2007 levels - 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