Tips for saving on your Tax Bill
Follow our top tips to help reduce your tax bill :-
1) Ensure an accurate business mileage log is kept. You can claim 45p for the first 10,000 miles and then 25p for any miles above 10,000
2) Print off all paperless bills, including mobile phone bills as the business proportion of these can be claimed
3) Keep all business receipts no matter how small! A box file is ideal for these.
4) Vans and low emission cars are the most tax efficient way to save on your 4 wheels, unfortunately this means that a Ferrari is not the best way to save on your tax bill
5) Do you have staff? Ask about the new £2000 employers NI allowance which can be applied for through your payroll
If you have a self assessment tax return form to fill in don’t leave it to the last minute give BFS a call today!
We visit clients across the East Midlands including Mansfield, Nottingham, Chesterfield, Newark and surrounding areas.Call 0800 433 2765 for your free no obligation consultation