Business Tax is an interesting subject for all Business Owners. The different Taxes are
- Corporation Tax for Limited Companies
- Self Assessment Tax on Individuals / Partners
- Capital Gains Tax on Individuals
- PAYE on Employees / Employers
- Dividend Tax on shareholders
- Inheritance Tax on Individuals
- Value Added Tax (VAT) on sale of goods / services
You do not have to worry about the above as we deal with it as and when they happen and submit the relevant Tax returns to HMRC on your behalf.
The main approach will be to utilise all the Tax Allowances available for Sole Traders, Partnerships & Limited Companies.
Having understood your Business, we will use different strategies to Minimise Tax, thereby maximising on Profit Extraction from your Business.
This could involve different combinations of
- Mileage & Subsistence Allowances
- Use of Home as Office
- Annual Investment Allowances
- Capital Allowances
- Capital Allowances on Fixed Plant & Machinery
- Flat rate VAT Scheme
- Interest Relief on Personal Borrowings