Tax Planning

Tax Planning

In the United Kingdom, both individuals and businesses have tax obligations. Whilst it is key that we all contribute towards taxes it is important that you understand what you should be paying and that you don’t pay more than you should – this is where tax planning comes in.

A nice simple explanation of Tax Planning is: “the process of forecasting one’s tax liability and formulating ways to reduce it.” –
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It is important to understand that tax planning and tax avoidance are legal, legitimate methods of reducing your tax burden. In contrast, tax evasion is illegal and often involves deliberately misrepresenting information.

Company Tax

As a business owner you want to be focused on growing your company into a successful and profitable business. It is therefore very important that you seek tax planning advice from a tax professional such as a qualified tax accountant and that, in collaboration with them, you develop corporate/company tax planning / business tax planning to suit your business.

As a business owner in the United Kingdom, your company’s tax obligations may include:

Tax on Dividends

otherwise known as Profit Extraction

Find out more

Company Tax

otherwise known as Corporation Tax or Business Tax

Personal Tax

As an individual in the United Kingdom your personal tax obligations may include:

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