A PROACTIVE APPROACH TO MINIMISING THE TAX BURDEN
Small business owners across the income spectrum are very focused on the tax they are paying. This is because of recent tax increases, which include an increase in national insurance rates, a lowering of the limit at which 40% tax is paid, the loss of the personal allowance on income over £100,000 and the introduction of tax rates over 40%. Ways in which we advise clients include:
- Putting in place the right balance between salary and dividends.
- Saving surplus cash in the company.
- The transfer of mobile phone contracts into the company.
- Getting the company to contribute to childcare costs.
- Make pension contributions direct from your company to your pension scheme.
- Claim as expenses a reasonable proportion of your home costs if your office is at home.
- Reclaiming business expenses from the company, even if they are not allowable for tax.
THE KEY TO A SUCCESSFUL RELATIONSHIP:
- Our processes.
- Structured record keeping by you during the year. We can help you with this.
- Timely provision of the data we require. The process should be over in 3-4 weeks.
- Working together with a year-end accounting checklist.
"Peter Crowther has always been a pleasure to deal with and always available when required. He is extremely professional & always able to answer any of my queries in a detailed & thorough manner. I will continue to recommend Haggards Crowther to friends and fellow work colleagues."
MR. AINSLEY, SW6