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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

P11d and P11d(b) Filing and Payment Deadlines

Remember, you need to tell HMRC about any Class 1A National Insurance Contributions (NICs) for the tax year ending 5 A...

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First Soft Drinks Industry Levy return due in July

If you are a packager of drinks that are liable for the Soft Drinks Industry Levy (SDIL) you are required to send a retu...

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Cycle to work scheme

The cycle to work scheme allows your business to provide employees, including directors, with the loan of a bicycle and ...

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Changes in advisory fuel rates from 1 June 2018

These advisory fuel rates apply for all journeys undertaken on or after 1 June 2018. You can use the previous rates for ...

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Do you always have to issue a VAT invoice?

It’s no coincidence businesses that poor records and paperwork are more likely to fail. Tax rules, especially those fo...

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Salary Sacrifice

A salary sacrifice scheme involves an employee giving up some of their gross pay in exchange for something in return, us...

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Help-to-save scheme postponed

The government help-to-save scheme, which was due to be ready on 6 April 2018 has now be postponed and will not be in op...

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New scale for VAT on fuel

HMRC has released details on the flat rate charges for car fuel. If you’re VAT registered you can use the scale charge...

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Tax-free aid

Working from home is becoming increasingly common! There are few special tax provisions to help employees and employers ...

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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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