There are too many taxes in this world! Income Tax, Corporation Tax, Capital Gains Tax, Inheritance Tax, Stamp Duty, Value Added Tax, National Insurance, withholding tax and s419 ICTA to name but a few..
The rules attached to most of the above taxes change at least twice a year so you need to be pretty switched on to keep up!
In fact, if you were to earn £1 in gross income without any tax planning your loved ones could end up with only 16 pence out of the original £1- the rest being paid away in taxes!
All businesses and individuals need to control their overheads and accountants4dentists are firm believers that the tax cost should be controlled in the same way as other overheads such as electricity and wages.
Almost all commercial decisions have a tax impact and whilst tax should not be the main driver behind any commercial decision, the tax effect should always be taken into account.
With effective tax planning, it is possible to positively increase the benefit of commercial decisions, negotiations and the structuring of transactions. accountants4dentists urge all of their clients to liaise before and during the decision making/structuring process so that the most effective tax result can be achieved.
If you want to manage your tax costs, speak to us about tax planning.