It’s estimated that over 35% of small businesses are paying too much tax! As a business owner,
cashflow is probably your biggest challenge. Effective tax planning will help you with this.
TAX AVOIDANCE OR TAX PLANNING?
“Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the treasury.”
Judge Learned Hand,
Helvering v. Gregory, 69 F.2d 809, 810-11 (2d Cir.1934).
Contrast this with Her
Majesty’s Revenue and
Customs and their view
of tax avoidance:
“Tax avoidance involves bending the rules of the tax system to gain a tax advantage that Parliament never intended. It involves operating within the letter, but not the spirit, of the law.”
Her Majesty’s Revenue and Customs
In simple terms, there are tax avoidance practices that are condoned by parliament such as employer
pension payments. However there are also tax avoidance schemes that whilst legal are
not condoned by parliament and these are referred to as “aggressive tax avoidance.” This is a grey area.
If you are unsure if you have used aggressive schemes in the past,
please contact Ten Forward for a professional review.
How can you save tax and reconcile the issues of tax avoidance?
The answer is “Tax planning.” Being able to take advantage of the opportunities to minimise your tax bill in a way that is encouraged by parliament. Effective tax planning will mean more money in your pocket, either for investing or for spending.
You can have your cake and eat it: minimise tax and avoid increasing tax risk.
Here at Ten Forward we have been providing solutions for effective tax planning for many clients.
SO... HOW CAN SMALL BUSINESSES SAVE TAX?
There is no magic silver bullet. However, through a series of steps and procedures,
it is possible to achieve significant savings in tax.
Maximise your tax efficiency
There are a myriad of tax allowances, initiatives, incentive arrangements and structures that the UK government have implemented to encourage small business to not only incorporate in the UK but to grow and expand.
Plan for different eventualities
This is where we feel most businesses are missing out. By doing some forward thinking, planning, scenario based research, we are able to help small businesses take advantage of whatever circumstance they find themselves in and apply it in a way Meet that minimises the team tax.
Start with Ten Forward today
We have worked with many clients to develop a bespoke arrangement that has yielded tremendous results, helping small business owners to invest in growth and development. It is at the centre of how we work here at Ten Forward.
We take a time intensive approach towards
helping clients deal with their tax affairs.
We look at everything to do with their
business, and then relate this to our wealth of
knowledge and experience.
That experience is not just about tax, it’s also
about how best to help you for the long-term.
Some of the immediate benefits
you could see?
- Significant reductions in Corporation Tax
- Cash refunds from HMRC to support you growing your business
- HMRC assistance with launching new products and services
- Reduce your Employment taxes
- Extract profits tax efficiently
DEALING WITH HISTORICAL TAX PLANNING COMPLICATIONS
The recent changes to the UK tax system has resulted in many business owners being exposed to the risk of potentially large unforeseen tax bills.
We have developed first-hand experience and are able to offer advice and solutions to assist you in these areas
CONTACT US FOR A NO-OBLIGATION TAX REVIEW
Your business will start enjoying the benefits of effective tax planning immediately