At UK Tax Advice and Accountancy, we understand that as a business owner, you face a unique set of tax challenges. Balancing the demands of running a business while ensuring tax efficiency and compliance can be a daunting task. Our team of experts is here to provide tailored tax advice to help you navigate these complexities. Here are few areas of tax that you might want to consider
As a business owner, understanding your personal tax liabilities is crucial. This includes income tax on your salary or dividends, and NICs. We can guide you on the most tax-efficient way to extract profits from your business, considering your personal tax allowances and the current tax thresholds.
When you sell or dispose of assets or shares in your business, you may be liable for CGT on the profit. We can provide advice on reliefs such as Business Asset Disposal Relief (former Entrepreneurs’ Relief), which could significantly reduce your CGT liability.
Navigating VAT regulations can be complex. We can assist with VAT registration, preparing and submitting VAT returns, and advising on VAT schemes that might be beneficial for your business. We also provide advice on the VAT implications of specific transactions to ensure you remain compliant while optimising your VAT position.
Planning for the future of your business is crucial. Whether you are considering selling your business, passing it on to the next generation, or exploring other exit strategies, we can provide expert advice to ensure a smooth transition while mitigating potential tax liabilities.
Why work with us?
At UK Tax Advice and Accountancy, we understand that every business owner’s situation is unique, and so is their tax planning needs. We are committed to providing personalised, comprehensive tax advice that aligns with your business goals and personal financial objectives.
As always, tax laws are subject to change and vary depending on individual circumstances. Therefore, it is essential to seek professional advice before making any decisions.
We offer a no-obligation initial consultation to discuss your needs and how we can assist you.