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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

Making Tax Digital

The Making Tax Digital pilot for Self Employed businesses launched in March which will progress in a few years’ time a...

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Selling your Business

When selling a business, the process is much more complicated than a simple transaction and a signature. It’s all abou...

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Flexible working staff over the summer holidays, how will this affect your payroll?

The school holidays are soon upon us and it can be a difficult time for working parents who are usually juggling managin...

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What's a reasonable excuse to not file your tax return on time?

It is very known that when a tax return has been issued, but not filed by the statutory deadline on time then an automat...

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What must go through your payroll and be subject to PAYE?

You may think it’s obvious what must be going through your payroll and be subject to PAYE however, it’s not just sal...

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Do you know who controls your business?

The law requires all Limited Companies and LLPs to tell Companies House about the people with significant influence or c...

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Employing casual staff

As an employer you must pay a worker a fair wage for a fair days work and also provide a workplace pension, welfare and ...

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RTI Penalties

When entering your information into your payroll, even it is all correct you still need to make sure that it is reported...

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Expenses & Benefits Review

Have you ever thought of initiating an expenses and benefits review? What better time of year than now to work through t...

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Testimonial

As long as we are in business, we shall continue to use Sence accounting.

Lucy Jackson
Lucy and Nicky Jackson

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