taxsave

Continually updating our tax knowledge to help you save tax every year

What do we do?

We spend whatever time it takes with you making sure the solution fits.

  • Unlimited advice through meetings or phone calls to discuss ideas.
  • Fixed monthly fee.
  • Engage with our clients at every opportunity.
  • This interaction is the catalyst that generates our advice to help you save tax.

How do we do it?

  • Unique pre year end meetings for every client allowing time to structure tax save methods before its too late.
  • Communicate new reliefs and allowances relevant to each client.
  • Identify key areas to explore from client interactions.
  • Considering each client as an individual.
  • Continued professional development.
  • Regular newsletters and updates written inhouse by our expert team.

 

 

Typical areas where we save tax:

Corporate & Income Taxes

  • Use of director loan accounts.
  • 10% tax rate- Entrepreneurs Relief - complex but effective means of substantial tax savings.
  • Government/Employment allowances.
  • Annual Investment Allowance claims for capital expenditure.
  • Enhanced Capital Allowances - on buildings you own.
  • Research and Development – Obtaining additional tax relief for expenditure incurred on Research and Development.
  • Taking advantage of the Personal Savings Allowance from interest received through personal or corporate investments.
  • Discuss use of pension contributions to maximise personal wealth from the business.

VAT

  • Registration and deregistration - Including HMRC flat rate and other schemes for small businesses.
  • Detailed calculations showing effects of rule changes on your business (e.g. the recent Flat rate scheme changes for Limited Cost Traders).
  • Specialist advice on building claims e.g. Option to Tax, Transfer of a going concern etc.
  • Other areas of VAT including import/export.               

Minimising dividend tax

  • Plan with you for dividends to be voted in tax years that may incur lower tax rates. A very topical issue given the new rates of dividend tax the government has imposed.
  • Use of family members and the most appropriate class of share in the distribution of income to key management/owners.
  • Restricting dividends if income is not needed to avoid any unnecessary income tax on the individual.

National Insurance

  • Use of spouse and children's allowances for salaries paid for work done. A strategy that is often overlooked.
  • Payment of dividends instead of salary to achieve tax efficient remuneration.
  • Setting the most tax efficient salary levels for directors taking into account the ever changing state pension rules.

Capital Gains Tax 

  • Use of Entrepreneurs Relief if relevant. This can secure a 10% rate of tax for you.
  • Making use of the annual exemption for each family member surrounding the disposal of a chargeable asset together with other reliefs available on chargeable property sales and other disposals e.g lettings relief and holdover relief.
  • Planning with you to ensure any gains are crystallised in the most tax efficient vehicle and tax period. Avoiding double taxation wherever possible.

Claim for the little things - they add up.

  • Appropriate mileage claims for business travel.
  • Use of home as office.
  • Ensuring the maximum permitted Travel & Subsistence allowance is claimed.
  • Mobile telephones for directors/employees of the business.
  • Most of which need no receipts to support these claims as they can be allowed by HMRC by dispensation.

ASK A QUESTION

If you would like to ask us a question, or request more information about this service, please contact us below: