Tax Saving Advice
It’s a fact that 9 out of 10 UK business owners are paying too much tax.
We think it’s time to do something about this., so we’ve written this short guide to help make sure you take advantage of all the legitimate tax breaks available to you.
Saving tax is easy if you know how to di it (or have an expert adviser to help you). Most of it comes down to a bit of forward thinking and planning your tax affairs in advance.
For example, it’s too late to get any meaningful tax saving advice if you wait until after your financial year end to take action. That’s why it’s imperative that you have regular communication with your accountant during the year. If you wait until your year end to speak with your accountant, then you may well have missed a whole host of opportunities.
You’ve probably heard the old adage that prevention is better than cure? Well saving tax is just like that – the best tax saving advice takes place early in your financial year before it’s too late to act.
Another important point to bear in mind is that tax legislation is constantly changing. The government make frequent changes to tax legislation, and HMRC make constant updates to how they interpret these changes. New cases and appeals are constantly being taken to court and challenged, and then new rulings and guidelines are issued off the back of this.
It is therefore imperative that you keep abreast of these changes to ensure that you are fully compliant. This is something you can do yourself, but if you want to get the very best tax saving advice then it makes more sense to use a qualified advisor.
At Abacus Accountancy, we are experts in providing up to date tax saving advice for individuals and owner managed businesses.
So why not give us a call and pick our brains? You will no doubt find that the small fee we charge will be more than covered by the amount we save you in tax.