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Tax saving tips for small businesses in Coventry - Accountants Coventry

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Kindly get in touch today via call on 02476017778 or email at info@cheylesmore.com or website and our accountants in Coventry will help you in each stage of your business. – PowerPoint PPT presentation

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Title: Tax saving tips for small businesses in Coventry - Accountants Coventry


1
Tax saving tips for small businesses in Coventry
  • Cheylesmore Accountants

2
Tax saving tips for small businesses in Coventry
  • The most important thing is corporate tax
    planning that you have to consider when starting
    a business. In this blog, you can get how to set
    up tax properly, tax-saving tips to make
    important savings.

3
Common tax mistakes that businesses make
  • There are several mistakes that businesses make
    while sorting out the company accounts and small
    business tax in Coventry. Here are some of the
    most common
  • Not separating your business finance accounts
    from your personal which leads to problems in
    arranging taxes and make it more complicated.   
              
  • Your bookkeeping takes too long and leaves it
    pending that can lead to a penalty when you do
    not get everything sorted in time.
  • Labeling your employees as contractors by mistake
    or by an objective.
  • Unaware of tax opportunities available to you.

4
Tax saving tips
  • 1. Choose the Right Structure
  • First, you will need to decide a tax-effective
    structure such as limited company, sole trader,
    individual, or something else. It can make a huge
    variation of how much tax you need to pay.
  • 2. The benefit of tax-free benefits
  • You may be able to take tax-free benefits such as
    mobile phones, health checkups, and staff
    parties, so treat your office staff and get
    tax-free advantages.

5
Tax saving tips
  • 3. Pay yourself in a tax-efficient way
  • You should ensure that you are paving yourself in
    an efficient manner. For instance, if you are a
    company, you could pay yourself a salary along
    with dividends as an employee.
  • 4. Stay organized and claim for everything
  • Organized finance and accounts in advance can
    avoid missing out on expenses that you could
    claim for. And you will able to utilize more time
    getting your taxes in systematic order.

6
Tax saving tips
  • 5. Work with a professional accountant
  • A professional and well-experienced accountant in
    Coventry can assist you to save your money on
    taxed by allows you to take benefit of corporate
    tax opportunities while providing other
    advantages to help your business grow.

7
Tax saving tips for small businesses in Coventry
  • Kindly get in touch today via call on 02476017778
    or email at info_at_cheylesmore.com or website
    https//www.cheylesmore.com/ and our accountants
    in Coventry will help you in each stage of your
    business.

8
Tax saving tips for small businesses in Coventry
  • THANK YOU
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