Business tax tip 1 – Are you using the most tax-efficient business structure?


We’ve recently given you our Top 10 Personal Tax Tips. Now, over the next few weeks, we’ll be running through our Top 10 Business Tax Tips. These will help you cut your tax bill and keep the cash in your bank account, not the taxman’s.

So, here goes with Tax Tip 1 – are you using the best tax structure?

Have you considered recently (ie in the last 12 months) whether your business would be better off trading as a sole trader, partnership, limited company or limited liability partnership?

Tip: The many changes announced in recent Budgets have moved the goalposts. For many businesses the scales may have tipped in favour of becoming a company, while for a few it may now be better to go back to being a sole trader or partnership. And, for some businesses, limited liability partnerships may be better than either.

Any questions?

If you would like to arrange a free meeting with a Liverpool accountant to discuss business tax structures, either at our office or at your premises, please contact us on 0151 724 3960 or by email at admin@mjfaccountancy.co.uk.

Alternatively, you can use our website contact form.

For tax tips and ideas to boost your profits, please sign up for our email updates.

Added by Jon Davies

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