Amersham Accountants, Palmers Business Support reducing tax liability for businesses like yours
Tired of always having massive tax bills? Feel like the taxman earns more from your business than you do? That’s exactly why you need a tax accountant: someone who will help you pay as little tax as possible; reduce tax liability for both you and your business and make sure your business earns more from your hard work than the taxman!
And over the years, we’ve been helping businesses of all shapes and sizes do just that. As tax accountants in Amersham, our focus is simply to find as many ways as possible to help save you money, so you can put it back into growing your business.
Whether it’s showing companies how to reduce corporation tax or helping reduce tax liability across personal affairs, we offer a wide range of services all designed to save you money.
Here are just 4 areas where we help our Amersham clients:
Reducing Corporation Tax: the simplest way to reduce your final tax bill is to reduce the amount of profit you make. We’ll take a good look at your business and identify simple ways you can achieve just that.
Minimise the amount of tax on savings: Do you have an ISA? Pension? If not, chances are you’re paying too much tax. We’ll help identify how you could reduce the amount of tax on savings.
Improve your taxable savings: even when you’re paying out on taxable savings there are things you can do to maximise your tax-free amount. We’ll take a thorough look at your investments and set you on the right path.
Reduce tax liability: chances are you’re paying too much tax on your personal affairs. We’ll show you some really easy ways to reduce tax liability and only pay the minimum amount of tax required by law.
Book a free initial tax consultation to understand how we can help you.
Based in or around Amersham? Then book a free tax consultation today with Palmers, your accountants in Amersham.
Being local is the best way we know of helping businesses reduce tax liability. Why? Because it allows us to really get to know you and your business and make sure we always put your needs first.
And we don’t mind if you are a one-man band or a SME. We work with clients of all sizes, so if you’re looking for accountants in Amersham, give us a call today.
Over the years, we’ve successfully provided our clients around Amersham with both business and personal tax advice on how to reduce corporation tax and their personal tax liability. If you think you could benefit from talking to an experienced tax accountant, request a free tax consultation today.
Make extra pension contributions – reduce your tax liability
Yes, it’s really as simple as that. Pension contributions are tax free, so making some extra contributions during the year reduces the earnings you get taxed on. Not only that, but in some cases, it can bring your earnings down to another tax bracket, which will also reduce tax liability.
Make the most of your pension scheme annual allowance
Talking of pensions, don’t forget you can take advantage of carry forward. This basically means if you haven’t used your annual allowance during the three previous tax years, then you can still make those extra contributions. Great for those of you who are self-employed with fluctuating earnings.
Learn more about other accounting and business growth services we offer on our website here.
Book a free initial consultation with Palmers to understand how we can help you.
Making your spouse a shareholder is a great way to reduce tax liability. Think about it: only the first £2,000 of dividend payments are tax free, so give some of those dividends to your spouse and immediately you’ve saved money. But be careful. HMRC are often suspicious when they see spouses as shareholders, so don’t split the shares 50:50 and make sure they have an active role in running the business, even if it’s just opening the mail.
Award employees for suggestions that benefit your business, and you won’t have to pay any tax or National Insurance. You can pay £25 for any suggestions that improve the way the business is run and if it’s an idea that delivers a financial benefit you can pay 50% of the money saved in the first year or 10% of the money saved over 5 years, as long as it’s not more than £5,000.
Another great way to reduce tax liability is to use your partner’s personal allowance. This means if your partner/spouse is not fully utilising their personal allowance and your income falls in the basic rate band, they can transfer all or part of their personal allowance to you.
Book a free initial consultation to see how we can help.
267 3184 85
Palmers Business Support was founded to help ambitous small business owners grow their personal wealth and achieve their ideal work/life balance. With accountancy as the central pillar of our offering, we take the view that timely accounts and efficient compliance is the bare minimum our cients should expect.