“In this world nothing can be said to be certain, except death and taxes.” (Benjamin Franklin)

He’s right, of course. However, if you prepare effectively and take care to ensure that your tax planning is smart, you can reduce the impact.

Whether you’re a brand new start up or an established family business, failure to plan for business taxes can cost you and your business money.

While you should never let tax breaks persuade you to make a poor business decision, it is vital that you factor into your business plan steps to minimise taxes. At d&t, we are proud to offer your business assistance with all aspects of tax and tax planning.

But what does business tax planning involve?

Your business is unique, and may have different requirements, liabilities or entitlements, so always seek professional advice (e.g. from us!) before acting.

Just a few of the areas you’ll need to consider include:

  • The ‘structure’ of your business (e.g. sole trader, LLP, partnership)
  • Claiming tax deductible expenses (view our advice video here)
  • Tax reliefs you may be eligible for
  • Capital allowances
  • Involving family members in your business
  • Capital gains tax liability
  • Business year end planning
  • Tax-efficient exit planning

We can also help you with completing your self-assessment returns, PAYE and NI contributions, and choosing the best VAT scheme for your business. Just get in touch or call 01793 741 600 and we’d be pleased to help.

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