If you’re in business, you’d like to make a profit – not pay unnecessary bills!  Running a business includes being responsible for paying taxes, so it’s a good idea to get advice on running your business affairs efficiently.

If you’re the director of a business, or you’re involved in running a company’s accounts, then you’ll already know that accurate bookkeeping can take time.  There are often changes to business legislation that can make it difficult to stay in touch with what you should be paying in business taxes, and how much business tax is already due.

How can an independent financial adviser (IFA) help businesses?

With that in mind, it’s advisable to ask for professional advice on making your business as tax-efficient as possible.  That means getting guidance on a wide range of areas.  Commercial mortgages on property, business loans, and company pension arrangements; share incentive schemes, group employee benefits, and general insurance; company cars, wage structuring and environmental initiatives that bring tax benefits to your business – these are all areas that you could talk about with an IFA.

As a business owner, the value of advice you receive can often outweigh the costs involved in seeing an IFA who specialises in business tax advice.

Questions you might like to ask an IFA…

Could employee benefits bring tax advantages to our business?

Could I re-structure any financing to make it more tax-efficient?

What is tax deductable in my business, how I can reduce tax owed?

When do I need to pay tax on my profits, what do I do if I make a loss?