We do of course use accountants. I also work as a mortgage broker and see plenty of other company director's accounts and tax returns etc. Yes there are benefits of running as a Ltd Company but the tax implications have changed enormously in the past 6 years. Yes normally directors take their wages up to the NI threshold which is below the income tax threshold too so no income tax is paid on that. Just as everyone else pays no tax on that amount also. Most companies of course make profits from which they then pay themselves dividends. Corporation Tax is paid at 19% on company profits.

As I said prior to 2016 there was then no tax paid on dividends taken. There is now only £2,000 free of income tax then you are taxed at 7.5% on dividends which you have already paid 19% corporation tax on. That 7.5% is being increased to 8.75%. It is now much less attractive to be a Ltd Company for small businesses than it was just 6 years ago. With the initial move in 2016 to make only £5K tax free; then the change 2 years later to reduce that to £2K. That is even before the new increase in rate payable.

That is not even taking into account that if you have any employees then the employer's NI rates are also increasing. Which of course adds to the cost of employing people and reduces profits in real terms.

I am not saying it is wrong that company directors, especially of small companies, have been hit over the past 6 years and are about to be hit again. I am just pointing out that the idea that they are not affected is incorrect. They have actually been affected by tax rises more than any other group of people over the past 6 years already. https://www.itcontracting.com/april-2022-dividend-tax-rise/