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      Chartered Accountants in London
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      Tax Efficiency Strategies: Minimising Business Tax Burden Legally

      minimising business tax burden

      Tax Efficiency Strategies: Minimising Business Tax Burden Legally

      Many businesses end up paying more in taxes than necessary because they don’t have access to specialised tax advisors in London. If you want to minimise your business tax bill, save money, and reduce your financial burden, we are here to help.

      Our team here at Allenby Accountants can provide tailored advice to reduce your taxes legally. We understand that your business is unique from others in your industry, and this is why we take the time to learn your requirements and challenges and address them with tailored solutions.

      Below are some tax efficiency strategies we may recommend depending on your case:

      Choose an appropriate business structure.

      Are you just starting out? The best time to approach our tax advisors in London is during business structuring. We can advise you on different options and how your choice affects the types of taxes you will pay.

      Establish different categories for limited company shares.

      Do you own a limited company with different share classes? You may choose to award dividends to one class instead of the other or declare different dividends for every share class. This may add flexibility for tax-efficient profitability.

      Claim benefits for your business

      If you use your home, computer, mobile phone, or vehicle for personal and business purposes, you could claim the business element of expenses reasonably and fairly. Our tax advisors in London can also recommend using your vehicle only for personal purposes and claiming business mileage via HMRC-authorised mileage rates. If you use your home to run your business, you may be eligible to claim a portion of expenses, such as insurance, mortgage interest, rent, general repairs, and council tax.

      Need more advice?

      We can review your case and recommend more specific strategies to reduce your tax burden. Just call 0208 914 8887 to book a free, no-obligation consultation with one of our tax advisors in London.

      Posted on June 23, 2024 by admin

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      Allenby Accountants
      35, Sweetcroft Lane
      Uxbridge , London UB 10 9LE
      Phone: 0208 914 8887
      Fax: 208 914 8889