TAX since the days of the Romans taxes have been collected , hated and avoided . A good accountant will help you with paperwork and planning .
Everyone agrees that businesses are being put out of business by the government whether by taxation or making it impossible to keep / hire staff.
They are even going to tax your pension , funded by you out of your hard earned money.
One opportunity you have is to use foresight.
USE your business .
If you buy a computer , stationary , fax machine , coffee machine or carpets & desks for your office you can claim back 25% as office furnishings.
That’s 25% RETURN on your money as you have the asset and the refund. Every year .
Now if you buy a piece of Art for your office ( you entertain clients so it has to look nice) the government refund you 25% immediately.
So for a High tax payer to send out of his pocket £1000- they have to earn 1660 before tax.
If on the other hand His/Her company buys it
Year 1 1000-25% = cost £750.
After 5 years ( because year 2 is 25% refund on £750) the cost to the Company is £250- at which point you may chose to redecorate the office , balance the books by paying yourself £250 for the asset and add it to your pension OR Give it to a family member.
so any picture has three costs
£1000- ticket price
£1660 – Total of earnings needed to buy it
£250 cost to business after 5 years.
USE the Tax System – don’t abuse it.
One client came to me and explained everything including the old tweed suit he wore , was owned by a Trust for FOUR Generations – He is a Duke , “owns” a world famous Castle and is very close to the monarchy. He pays NO tax.