Small to Medium Businesses

Are small business in Manchester and Stockport paying too much tax?

By July 15, 2016February 16th, 2021No Comments

Most small businessmen are using their skills to make money. Keeping track of their accounts is the last thing that’s on their minds as long as cash flow is fair. Then tax time comes around, and it’s one big rush to get everything tallied up. Will using accountants in Manchester or Stockport save them tax money? What other advantages can they expect? Will it be worth the expense to have an expert work on a small business’ accounts?

Make more profit. Keep up cash flow.

A lot of profitable small businesses find themselves facing a shortage of cash flow after tax time because they didn’t put enough money aside to cover tax payments. To know how much you should be keeping for tax, it’s wise to track your financials on a monthly basis, recording income, expenses and profits. Doing this can also help you to see if your business is financially healthy and whether you need to make any adjustments to your income and expense budgets.

 

Are you claiming all your expenses?

When you’re a busy small business operator, keeping track of all the receipts and expenses you know are tax deductible is hard enough, but are you claiming all the business expenses you’re allowed to? Being clever and claiming all the expenses you may deduct by law could save you a lot of tax. Our accountants in Stockport and Manchester know how to help businesses minimise tax using strictly legal business expenses you might not have known about.

 

Do you dread queries from revenue services?

It’s not that you’ve been dishonest. You’ve done your best. But if you don’t have an accounting background, dealing with the taxman isn’t easy. You’re not sure how to respond. You don’t have the time. It gives you nightmares. Your Manchester and Stockport accountants deal with any queries coolly, but they’re unlikely to happen in the first place if we’re handling your accounts.

 

You could be paying more tax than you need to

Apart from paying more tax than the law actually requires, most small businesses experience occasional cash flow problems. These are often predictable. When you use our services, you’ll also understand the financial side of your business better. Find out what we can do to minimise your tax burden and help you boost your profits – contact us for an appointment to discuss your needs.

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