Tax Planning

Tax Planning

While all business owners strive to make their business as profitable as possible, the higher the profits, the greater the tax liability - both personally through income and dividend tax, and through corporation tax.
 
However, with proactive, pragmatic tax planning, it is possible to reduce the tax burden quite legitimately, maximising the benefit you receive from the years of hard work you've invested in growing your business.
 
For example, tax savings can sometimes be made through salary sacrifice schemes or enhanced pension contributions.  Making the best use of both your personal allowances and those pertaining to your spouse or partner can also help to reduce your liability, as can maximising the use of tax efficient loans.
 
From an accounts perspective, there are tax savings to be made by maximising allowances on qualifying capital expenditure, and structuring directors' loans and deductions properly.
 
For individuals, good tax planning will help to minimise inheritance tax and capital gains tax through maximising allowances, and utilising the appropriate reliefs.
 
At Blue Roof Accountants, we work with private clients in Bournemouth, Poole, Ringwood, and throughout Dorset and Hampshire, helping them to efficiently plan their tax position, reducing their tax burden and helping them to achieve their personal financial aspirations.

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