Audit and Personal tax - Private Limited company

Client D engaged BMOL Partners as auditors. He had a distribution company making profits. He owned the warehouse personally in which the company operated. His wife did not work but was an unpaid director of the company. 

BMOL Partners advised that the company could avail of the audit exemption due to particular circumstances. The client was further advised that his overall tax payable would reduce if the company paid his wife for her director’s work due to increased allowances available.

Furthermore, the warehouse was being rented at below market rate by the company and the client had rental losses.