Tax Planning
In today’s dynamic financial landscape, businesses face the challenge of complying with complex tax laws and regulations. Using our comprehensive tax planning service can help ensure your business is paying the correct amount of tax and not a penny more.
Strategic business tax planning tailored for you
Business tax planning helps you to effectively manage your tax obligations and make educated business decisions.
Our experienced and professional accountants provide uniquely designed tax planning solutions to meet the needs of your business. Our experts are up to date with the latest tax changes, offering relevant tax planning advice to minimise your tax liabilities.
Our business tax planning service
Successful business tax planning can make a huge difference to your profits, tax liability and the growth of your business. Our knowledgeable advisors will work with you and your business to find tax saving opportunities relevant to your circumstances.
What are business tax planning strategies?
Examples of business tax planning include:
- Use of capital allowances: Ensuring you claim eligible capital allowances will reduce your tax liability.
- R&D relief: For eligible businesses, Research and Development (R&D) relief is invaluable as it offers a high level of tax relief.
- Review profit extraction: Different types of income can attract different tax rates, planning how you pay yourself is important.
- Consider the most tax-efficient structure for your business: Considering the difference between business structures such as sole trader and limited company is an important discussion when it comes to tax planning.
- Expenses: Maximising business expenses will reduce your taxable profits. We can help you make sure you’re including all you should be to maximise your tax savings.
Contact Us
Contact us to book your free video or face-to-face consultation to receive a proposal and fixed fee quote.
Frequently Asked Questions
Yes, limited companies can get tax relief by paying reduced corporation tax by donating to charity. Businesses can include the donation in their costs, reducing the business’ profits. Corporation tax is then paid on a lower amount of profits.
Some tax reliefs have caps, but it depends on the type of relief. Speak to HMRC or our team at TaxAssist Accountants, who can give you the specific details you need.
You can avoid tax by planning to minimise your exposure to tax. To plan effectively, ensure you have trustworthy accounting records. Use online accounting software like QuickBooks or Xero for assistance.
There are lots of tax planning methods available to sole traders. These include claiming all allowable expenses as explained above, as well as making pension contributions and charitable donations. For friendly and professional help you can also speak to our team.
Join us in three easy steps
Get in touch
Arrange a free consultation in person or via video with your local accountant. It’s an informal chat to get to know you and find out more about the help you are looking for.
Chat to an expert
We clearly explain the support available to you and are happy to act as business advisors in order to help you grow your business.
Get a fixed quote
Our fees are fixed and tailored specifically to each individual's needs, so that you only pay for the level of support and services that you require.
Choose the right accounting firm for you
Running your own business can be challenging so why not let TaxAssist Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch?
Local business focus
We specialise in supporting independent businesses and work with 100,000 clients. Each TaxAssist Accountant runs their own business, and are passionate about supporting you.
Come and meet us
We enjoy talking to business owners and self-employed professionals who are looking to get the most out of their accountant. You can visit us at any of our 389 locations, meet with us online through video call software, or talk to us by telephone.
Switching is simple
Changing accountants is easier than you might think. There are no tax implications and you can switch at any time in the year and our team will guide you through the process for a smooth transition.