General Business Tips

Make sure you take money out of your business in the most tax efficient way

If you are operating a limited company are you using your personal allowances in the best way?

Pay your spouse a tax efficient salary

Be aware of the allowances available for capital expenditure and plan the timing of any purchases

Make sure you get advice on the use of motor vehicles in your business and the tax deductions available.

Find out the dates you need to pay your taxes to avoid paying unecessary fines and penalties

If you have employees be aware of the procedures required under PAYE

If you work from home there are allowances that you can claim against your taxable income

If you are VAT registered and have a taxable turnover above £85,000 you will need to register with HMRC for “Making Tax Digital”.