An effective tax strategy is integral to decision making and business growth. Surprisingly many individuals and businesses have either no tax strategy or poorly thought out tax strategies, which means many people and businesses pay more tax than they need to.
For businesses, adopting the right tax strategy will not only reduce your overall tax exposure but can be applied as a strategic tool to increase your competitiveness. Our tax consultants can help you reduce your tax liabilities and mitigate financial risk.
In recent years there has been a growing realisation that big companies increasingly find ingenious ways to legally avoid tax. However this is not the preserve of big business. Every business can achieve the same goals if they have the right tax consultants with the necessary skills and knowledge.
Every business needs to not only understand the type of expenses it can legally put through the business but which type of expenses make profitable sense to put through the business. For example is it better to buy a company car on lease or is it better to purchase it privately?
In the case of limited companies there are detailed laws governing allowable business expenses, which are critical to know for business profitability. As an example, businesses can get tax relief allowances on buying certain types of equipment and machinery. Furthermore if a business carries out a lot of research and development then it can also claim tax relief.
Therefore it is essential to work with chartered accountants and tax consultants who have the necessary knowledge to advise you. Indeed it may be the case that there is no need to reduce your corporation tax bill and that it would be more profitable to take a share of the profits rather than drawing a salary from the business.
These are just some of the intricacies a business would need to consider, which demonstrates the importance of finding the right chartered accountants and tax consultants to advise on the most suitable course of action.
Our chartered accountants and tax consultants work with clients in Birmingham, the West Midlands, East Midlands and London. We provide the following tax services:
Capital gains tax
Corporation tax
Custom duties
International tax
PAYE and National Insurance Compliance
Tax investigations
Tax strategy and risk
VAT