Saving Tax and Tax Refunds

In all cases we can help by taking a look at your situation, email us with your questions, your initial chat is FREE. Here are some checklists to reduce the amount of tax you pay:

Employees

• Maximise personal allowances through things like ISAs, analysis of company car structure, capital disposal scheduling etc.
• Run a part time home business so that you have a "Self Employed" status.  This is one of the most effective tax benefits available, and unknown by most people.
• Keep tidy paperwork to allow analysis of your position.

Self Employed / Companies

• Maximise personal allowances through things like ISAs, analysis of company car structure, capital disposal scheduling etc.
• Analyse your expense base to check you are claiming all expenses that are allowed.  Also check you are not claiming things that you should not, business entertaining in the UK for instance.
• If you work from home, calculate the appropriate share of home expenses allowable in your business.
• Keep tidy paperwork to allow analysis of your position.
• Calculate whether your business would save tax by being incorporated into a Limited Liability Company.

Employers

• Review pay and benefit structure to make best use of tax incentives, such as pension and salary sacrifice.
• Analyse your expense base to check you are claiming all expenses that are allowed.  Also check you are not claiming things that you should not, business entertaining in the UK for instance.
• Keep tidy paperwork to allow analysis of your position.

 

 

To save tax, you need to review:

• Personal Allowances
• Benefits
• Self employment status
• Expenses in business
• Allowable home expenses