Reducing your tax – Paying the legal minimum

We all must pay our taxes; it is an inevitable, and arguably a moral, obligation of a functioning society. But that does not mean you should not minimise the amount you pay.

We do not advocate risky tax strategies, but we do help you organise your affairs in such a way that means you do not overpay your taxes.

Each of our three services – Compliance, Compliance Plus and Financial Controller – includes tax planning as part of the process. We have a 20-point tax planning checklist that we use to identify and action tax saving tips for you each year.

Tax saving is always based on your individual circumstances, but here are some examples of how we have helped saved tax for our clients:

• We helped a client receive a £45,000 tax refund for R&D tax credits
• We assisted a client in avoiding a £30,000 tax bill for accidently opening two self-assessment accounts
• We help avoid a £24,000 VAT claim by HMRC after a previous accountant incorrectly registered them for the flat rate scheme
• We saved £19,000 a year for the next two year by changing the remuneration strategy for a client

These are some of the highlights, but we save tax every day by spotting opportunities in your accounts and tax returns.

Sleep walking into a huge tax bill!

The best way to pay more tax is to do nothing to arrange your affairs in a tax efficient way. By sleep walking along with your finances and not having an expert review them you could be paying more than is required.