Tax Planning

If you’re newly starting out

We will help you decide on the most suitable structure for your business – sole trader, partnership, limited liability partnership or limited company based on your personal circumstances and your business proposition. Getting this right the first time could save you a lot of time and money. The structure of your business could change as your business grows.

Company structure

For a group of companies within a portfolio, the structure of companies is a fundamental area to be considered for corporation tax purposes. A poorly structured company could be subject to higher tax liability as oppose to a well-structured thought out one.

Limited company and wealth extraction

There are several ways you can extract wealth out of your business or pay yourself, such as a salary, management fee or dividends. Deciding the best option and the optimum amount under each option based on your personal circumstance is crucial. Properly planning this could save you a significant amount in tax.

Dividends can only be declared if a company has sufficient ‘reserves’ to pay out otherwise the dividends could be illegal. Dividends must be authorised and properly documented for it to be lawful.

We can help

Get in touch with us today to get your taxes in order!

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