Tax Planning For Business Owners

Diligent tax planning is all part of the service we offer to business owners, ensuring that you make full use of all the allowances and arrangements available to you.

For instance, the annual investment allowance enables your business to claim 100% initial relief for investments in plant and machinery, and we’ll also help you consider the ways in which you take your income, helping to make sure you do it as tax-efficiently as possible. Dividends are one way to distribute funds from your company to shareholding directors, but it’s important to do this in such a way that you retain your entitlement to state benefits. Lower effective rates of income tax may also be achieved by taking income as a combination of salary dividends and pension contributions.

Taxation of Shareholding Directors

We generally advise that you should keep your remuneration strategy for shareholding directors under review, as this gives you an opportunity to make sure you’re paying the lowest possible overall effective tax rate. We’ll work with you to review this strategy, making sure you’re doing what you can to take advantage of all the reliefs, allowances and schemes available to you.

The levels and bases of taxation, and reliefs from taxation, can change at any time and are dependent on individual circumstances.