Review your business structure regularly

How your business is structured can have a dramatic effect on your annual tax bills.  In the early years of a business it may be more advisable to be a soletrader or partnership.  However, as profits increase there can become a time when transferring a business into a limited company can make more sense.  The tax savings alone can be quite substantial.

If the business is breaking into new markets or establishing a new product then by structuring this new business separately from the main business, may save you thousands in tax on new profits.

We offer business health checks to review the current business structure and identify the possible annual tax savings by restructuring the business.  Please contact us if you are interested in finding out more.

Are you sure that you are operating within the best structure for your business? If not, get advice!

Extract taken from our 2010 Summer edition Tax newsletter – if you would like to subscribe please leave your details here.

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