“In this world nothing can be said to be certain, except death and taxes” (Benjamin Franklin, 1706-1790).
Profitable small businesses will pay tax on the profits that they make – it’s unavoidable.
Just as you make plans on how you will sell your goods and services to your customers, it’s important that you should make plans to put money aside to pay HMRC the taxes that are due on your profits. It’s also important that you don’t pay more tax than you have to, which can often happen if you don’t work with an expert who knows how to avoid the banana skins of complex tax rules.
Our Silver and Gold clients benefit from a tax planning session with a qualified accountant at month 10 of your financial year. We’ll review your year to date progress and estimate your corporation tax and income tax for the full year. We’ll also use our expertise to discuss with you any tax saving opportunities you can take advantage of before the end of the financial year. Finally if you are VAT registered we’ll review if you are on the best VAT scheme for your business.