Wealth Improvement

Business Tax Planning

A core part of our service for all clients is to make sure we work with you to minimise your tax liabilities and help you achieve your overall business and financial goals.

The first aim of any business is to make profits for its shareholders. In many SMEs this can mean just one owner, or perhaps a small group of family shareholders. So at every meeting with a prospective new client we cover the basics of profit extraction and discuss how to pay yourself in the most tax efficient manner.

Regular, consistent and expert. Like tax advice should be...

There's no ‘one size fits all’ model for tax efficient planning so you should always speak to an expert before you start your business. It's also really important to have regular advice each year and that means finding an accountant you know, like, and trust.

Business tax advice can vary whenever any of these factors change:

  • Are you married, single or divorced?
  • Do you have children, and how old are they?
  • Are you receiving child benefit, or paying for childcare?
  • Do you have a business partner?
  • Do you want to make your staff shareholders in your business?
  • How much money do you need to pay yourself from the business each month?
  • Do you have a pension?
  • Have you made a will?
  • Do you work from your home?
  • Do you drive a car for business travel?
  • What would you do if you had a good year and made record profits? Save it for a rainy day or spend it?

That's why we provide regular tax planning services as part of our service packages. You can use these to share any changes in your circumstances that may impact your tax position. We'll use it to let you know about recent changes in tax legislation that may affect you. We'll advise on how to fix the threats. And we'll talk about how to make the most of the opportunities.

Heading for the exit
Some business owners follow Steven Covey’s principle of ‘Start With The End In Mind’. They have a long term goal of building up the company to sell. Sometimes a client tells us that they want to sell their business ‘one day’. In our experience it’s not until you commit to a date that the real focus on shaping the business for sale will begin.

Either way, we can help! We provide advice on how to structure your company, and how to run it to maximise its financial sales value.

Why not get in touch to have a no obligation chat about how you can start to plan for tax and put your business goals first? Just send us an email or give us a call on 0131 220 0152. We’d love to have a chat.

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Call us on 0131 220 0152 or complete the enquiry form

We are a team of award winning Chartered Management Accountants based in Edinburgh. We are cloud accounting and tax specialists helping businesses and contractors in the technology and food & drink sectors across Edinburgh and the Lothians. Your Tech-Savvy Edinburgh Accountants since 2007.