Everyone wants to minimise their tax liabilities, with Genie Accountancy we can help you do this in a legal and efficient way. By getting to know you and understanding your goals, your dedicated accountant can work with you to develop your business and save you tax.
From the initial stages of your limited company formation, your accountant will discuss how to extract funds from your business efficiently to maximise your wealth both in the short and long term. We realise that situations change and this advice is not set in stone. We expect to talk to you regularly and to discover if your priorities are changing. We will revisit your thoughts, at least on an annual basis, to ensure that your salary/dividend split is still the most appropriate for you.
We will discuss how to minimise both corporate and personal tax. From a business perspective we will continually review your books and records, making proactive suggestions as the year progresses to allow you time to implement change and save tax if possible. We can put you in touch with IFA’s Contractor Financials, specialising in advising freelancers and contractors. We can all work together to maximise tax savings through the use of pensions and other tax-efficient investments.
When it comes to VAT we can advise when you need to register, if indeed you do, or we might even suggest you register voluntarily! We will work with you to determine which VAT scheme is best for you in terms of both financial considerations and administration.
At some point you may wish to close your business down and tax planning will be an important part of that decision. It is not as simple as just closing the company and emptying the business bank account. An innocent, ill-advised choice at this stage could lead to large tax liabilities and professional fees, but by talking to us in advance of any major decisions or changes we can plan with you to maximise your return on your investment, whilst minimising the cheque to HMRC.
Your accountant is also there to advice you on other tax issues that may crop up.
Whatever the situation your dedicated contractor accountant will be able to provide friendly and bespoke advice to suit your needs, give them a call: 01296 468 185.
