Business Tax

The business tax system is becoming ever more complex, with increasingly harsh penalties, but business owners have no option than to contend with its rules and regulations. It is therefore essential to be sure that your position and your decisions are considered carefully to make sure that you pay as little as possible.

We keep your tax bills to an absolute minimum by considering all available allowances, losses and opportunities to reduce your business tax liability.

This can include areas such as:

  • A full review is carried out of expenses, entertaining and legal costs on capital expenditure.
  • Capital allowances are reviewed to ensure the maximum allowable is claimed.
  • Leased cars are adjusted for, if appropriate.

Research and Development tax credits are painfully underexploited within the small business community. We’ve had very successful experience with claims in the past, across a range of industries including manufacturing, Software and Technology. If you’re developing a new product of any kind, there could be major savings to be made!

Regular pre-year-end Tax Planning is vital to ensure any liability is effectively minimised, or the opportunity can be lost forever. This can be as simple as making a key purchase or disposal at the right time, or considering how dividend timing flows through into your Personal Tax return.

The world of Business Tax is a complex one for any business, but one that we can lead you through and explain fully so that you understand it; why not contact us now to arrange a discussion to see how we could improve your tax position?

Read our related Blog posts:

Electronic Notices from HMRC – A recent Tribunal loss is likely to bring changes to how electronic notices from HMRC are sent. This probably means that taxpayers behaviours will need to change too!

BaranovTV – Fee Protection – The Risks & the Benefits – HMRC are struggling with a Tax Gap of £33billion! Find out what we’re doing to minimise what they’re getting from our clients…

What are Directors Loans? – Many Directors, particularly where the Company is small, can find themselves with an unexpected tax bill as result of Directors Loans. But what are they, and what should you be aware of?

How do you know how much to save for tax? – At a meeting with a relatively new client recently, we were asked how he knew how much to save for his Corporation Tax as each month went by. This is a really smart question, as saving for your Corporation Tax as you get payments in from your customers is the easiest way to avoid a panic when the due date arrives.

Taxing Times according to the FSB – The FSB has published a report that highlights the many hurdles faced by small businesses when trying to pay their taxes.  ‘Taxing Times’ has found that the average small business spends £5,000 and three working weeks every year on tax compliance.

Fee Protection is now included as standard! – Every year HMRC subject a growing number of submissions from small businesses to intense scrutiny, often without cause and without recovering more tax. This can be a huge cost to the business, both in fees for defending their position, but also in terms of time and worry.

Why we don’t advocate Aggressive Tax Schemes – Aggressive Tax Schemes are the type you hear about in the news. They are the ones that high profile, high earners use to avoid paying tax on their incomes, for example Gary Linekar, Philip Schofield, Gary Barlow and David Beckham. Or are they?

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Related services

Year End Accounts

It may be a radical thought, but accounts produced for statutory purposes can also be put to good use within the business!

Personal Tax Returns

Do you watch the calendar to see the filing deadline of 31st January approaching each year and keep reminding yourself that you really must get around to submitting your Tax Return?

Management Accounts

Management Accounts is the name given to the prompt production of similar information to that which is included in the annual statutory accounts.

HMRC Investigations & Enquiries

As a result of increased pressure from Government, the numbers of HMRC Investigations and Enquiries rise dramatically every year.

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