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Chartered Certified Accountants
and Business Advisors

01530 267320

Effective Tax Planning

Effective tax planning is important to every client and every business. At the most basic level there are simple planning actions you can take to start saving tax yet there are businesses out there that are not aware of these. Nobody likes paying more tax than they have to, and why should they?

Sence can provide advice and help with the following areas:

Reduce the tax on growing businesses

For growing businesses launching something new (e.g a new product or entering a new market), it is possible to restructure the business in a way so that the end result is that 5-10 years of expansion profits can effectively be earned free of tax, and this new structure enables businesses to reward, motivate and retain key people.

Advanced remuneration planning for companies

For companies that are looking to pay their key employees/directors in excess of £100k in discretionary bonuses (and have the cash), there are strategies that could reduce their personal income from a surprising marginal rate of 60% to zero!

Reducing the cost of commercial property

Have you bought or extended commercial property at a cost of £300k or more in the last 10-15 years ? Or thinking about it ? It is possible for any taxpayer to claw back (usually) between 20-40% of the costs and reclassify them as plant machinery. This can result in big savings and sometimes a big cheque from HM Revenue and Customs.

Reducing inheritance tax

There are a range of inheritance tax (IHT) strategies available from basic Will-based IHT planning that can sometimes save over £100k in tax to more advanced IHT planning that can reduce IHT liabilities to nil.

Strategies relating to contractors and one man service companies

There are alternative strategies for eliminating the risks of IR35 enquiries and delivering over 80% of gross earnings to the contractor.

Don't ignore R&D Tax Credits

Discover if your company is eligible to claim Research & Development credits and obtain 225% tax relief.

Get in touch to find out more about effective tax planning.

Latest news

New HMRC Phishing Scam

We have received communication from HMRC that a new phishing scam is doing therounds via email and business owners need ...

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Directors Pay Structure 2017/2018 - What you need to know...

The tax free personal allowance for 2017/2018 is set at£11,500. The National Insurance earnings threshold is...

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Paying Your PAYE Electronically

If you pay your PAYE electronically, you need to ensureyou follow this guide fully to make sure your payment reaches...

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Fuel Rates Increase – April 2017

HMRC has updated its advisory fuel rates (AFRs) with effect from 1 April 2017. These are the rates for reimbursement of ...

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Vehicle Excise Duty 2017

Vehicle Excise Duty (VED) for all new cars registered from the 1st April onwards is being reformed. VED for the first...

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Government clamps down on VAT Flat Rate Scheme

The Autumn Statement included a proposal to remove the VAT saving which can be achieved by businesses which use the flat...

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Tax Free Childcare has arrived (almost)

In 2013 the government announced a new tax breakfor working parents to help them pay for childcare. Itwill, at last, be ...

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Have you seen your Personal Tax Account Yet?

As part of the government’s initiative to bring tax into the digital age they have created an individual and persona...

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Introducing Amy

Some of you may not have met me yet, I joined Sence Accounting at the end of 2016 having joined theaccounts and technica...

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Government U-Turn on National Insurance Increase for Self-Employed

We recently sent you our Budget Summary detailing the announcements made on Budget Day 8March2017. One of the sig...

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Statutory Rates Will Change - 2017

In April 2017 the National Living Wage (NLW), National Minimum Wage (NMW), Statutory Sick Pay (SSP), Statutory maternity...

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Salary Sacrifice – Existing Schemes Safe for Now!

From the 6th April 2017, HMRC reported that the tax and NI advantages would stop for most salary sacrifice schemes. This...

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Class 2 NIC Confusion – Check your figures!

If you are Self-Employed you need to ensure you have paid the right amount of Class 2 National Insurance Contribution fo...

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Survey Results are in...

In November we launched a client satisfaction questionnaire to allow us to monitor what our clients thought of our servi...

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HMRC Investigations - Are you insured?

Every year, HMRC conducts investigations into thousands of businesses and individuals and so far, its speciali...

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What does 2017 hold...

Back in the summer of 2016 a client of minerecommended a book to me, this was one of the best things that happened dur...

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Advisory Fuel Rates 2016

Advisory Fuel Rates from 1 December 2016 These rates apply from 1 December 2016. You can use the previous rates for u...

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Exciting Times at Sence Accounting

We hope you have had a great summer. Sence Accounting have certainly been busy - so much so we thought we would share ou...

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How to tell if communication from HMRC is genuine

At Sence, we are regularly asked how business owners can tell if they have received a genuine communication from HMRC. T...

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Sence Support ITCC - Ladies Team

Sence Accounting are delighted to sponsor Ibstock Town Cricket Club Ladies Team for the 2015/2016 season and look forwar...

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Testimonial

A professional service at all times given by a friendly team who are always happy to help and work at our premises.

Steve Tallett and Lyndsey Watson
Crescent Motoring Services Ltd

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