Tax advice

How do I save as much on personal tax as possible?

Tax help and tax advice can only be delivered on an individual basis as everyone’s financial situation is different and making tax savings can be a complicated area.

It can also depend on how you view taxation.  The more consideration you give to legally avoiding tax, the more you are likely to save.  If you are a high earner, relativly wealthy or are a small business owner, you will hopefully be paying a lot in tax.  This of course means you are also earning a high income too.

We view tax bill reduction the same as keeping control of any other expense but it has the additional advantage of not reducing your life style. If you are looking to invest money there will be tax implications depending on how you chosse to invest. There are still good tax breaks avilable to investors which sholud be considered.

Tax planning should always form part of your overall financial plan. Regular reviews of your financial and tax affairs is always worthwhile.

Can you help a small business owner with tax advice?

Small business owners are probably the group of people that have the biggest opportunity to save money on tax.  This is because in general they don’t proactively seek advice that area.  Accountants tend to only give advice if asked to do so as it is not their area of speciality – unless they are also a charted tax adviser.

As a result of this passiveness, there are generally larger tax saving opportunities for this group of people than there are for most others.

The main reason for seeking small business tax advice is that you should be able to save money on all areas of tax, including:

  • Corporation tax
  • Income tax
  • Capital gains tax

All of this should have a long-term view towards estate planning and inheritance tax planning.

What if I’m happy with the way I currently do my business taxes?

You can of course continue doing things the way you are, as long you don’t mind potentially missing out on some potentially significant tax savings.

If you did wish to seek specialist tax advice, all you would ‘lose’ would be the time taken and any fees involved (which should be outweighed by the savings you could make).  As long as your current and future tax planning is avoidance and not evasion, you can continue.  However, the line between the two is quite blurred and we believe that professional help is essential to keep on the right side.

Why should I use you to help with small business tax advice?

As independent financial advisers and financial planners we can carry out a full review of both business and personal taxes.  If necessary, we can introduce you to a range of firms who are specialist tax advisers who will work closely with ourselves and your accountants to achieve the best tax savings for you.

For many bsuiness looking at both specific tax plnning for specific tax problems and also looking at the basic structure of their tax planning can reap huge savings.

If you are a small business owner it is probably that there are tax savings to be made for you.  Please call us on 01763 232326 for more information or Email us.

Still have further questions regarding small business tax advice?

If you want more information on small business tax advice please call us on 01763 232326 or Email us.

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