July 5, 2017

4 Tips for Personal & Small Business Tax Planning

When it comes to tax planning small business needs are our priority. Our tax planning service has many stages and is built around the individual needs of your business.

How can a Glasgow accountant from The Kelvin Partnership help you?

No matter the type of tax – inheritance, personal etc. – our accountants have the appropriate experience and expertise! Are you a company looking to reduce your corporation tax bill? There is no point in more tax that you should have to!

Understand your Business Structure

Tax planning small business wise, you need to fully understand your company! Depending on the structure your business operates under, the amount of tax you pay will differ. So, when you start up your company, place importance on deciding how it is going to operate! A partnership? A limited company? This choice will have an impact on how much tax is going to be paid. If you are unsure about your most appropriate business structure option, one of our accountants will be there to talk and offer quality advice!

Remember to Claim Expenses!

accountant company planning for the future
Also, in terms of tax planning small business needs, you need to remember about claimable expenses! Claiming the right expenses and going about dealing with these claims in the correct way is extremely important. Though not all expenses are eligible for deduction, it is worthwhile and cost effective to take time in understanding which ones are and which are not. This is something your accountant can help with! Part of small business accountant and tax planning service is to ensure that the client is informed of all the options.

Personal Tax Advice

The Kelvin Partnership tax planning service also covers personal tax! Our accountants understand that tax as a concept is unpopular with many people. It’s confusing, inconvenient and often inaccurate. We can help with income, capital gains and inheritance tax. We will make sure you have all the guidance and are taking full advantage of any entitlements or allowances. Also, we can offer advice about your employment status! Unsure about if you are self-employed or employed? Look at this post to learn more!

What about VAT?

In our tax planning service, VAT is covered too. We understand that VAT investigations can be difficult and intense, however, with help from our very experienced team, your VAT stress will be taken away! With will advise your business from the stages of VAT registration, to the most suitable VAT schemes through to dealing with any VAT control visits.  In the case of tax planning small business needs are very important to us, arranging a meeting with one of our accountants, you can guarantee your VAT problems or questions will be solved and answered.

Do you have any queries or would like to know more about our tax planning service? Contact us today!