Tax advice

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Don't leave the tax man a tip

We specialise in enimage_1suring that your Owner Managed Business is paying the correct (i.e. the least) amount of tax each year. The following common areas of tax advice are covered and many more:

Corporation tax: Should I incorporate; Salary vs dividends; Company car vs mileage allowance; What expenses can I legitimately deduct from profits; How to efficiently extract profits from the Company; Property – in or out of the Company, and Use of flexible dividends

Income tax: Should I incorporate; What year end date should you use; What are the tax advantages of paying into a pension, SIPP, EIS or VCT; How to utilise tax losses; How to use your other family members tax efficiently, and How to use flexible dividends.

National insurance (NI): Making full use of the government’s Employment Allowance; What is the most tax efficient level of salary for NI purposes, and How can benefits in kind be used to reduce the amount you pay.

VAT: Should you registering for VAT even when you’re below the threshold; Should you be using the Flat Rate Scheme to save tax, and How to maximise your input VAT, particularly with respect to motor expenses

Capital gains tax (CGT): How to make full use of your tax-free band for CGT; Planning to maximise your Principal Private Residence Relief & Letting Relief on property; Using holdover relief, and Maximising Entrepreneurs Relief on the sale of your business

Inheritance tax: Using a will to maximise your nil rate band; Ensuring you utilise your business property relief; How to make the best use of your Annual Reliefs; How to invest your capital to reduce taper relief period from 7 years to 2 years; Making full use of your payments out of income, and Using trusts to avoid the cost of care home fees

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