Whether you have just started your business or have been in business for a long time, Safi A can help you with your tax planning needs.
If you are looking to make tax savings but do not want to attempt to interpret detailed tax legislation, we would recommend seeking the advice of a tax professional. We offer all clients tax planning reviews and try to ensure they only pay as much tax as they are legally obliged to and no more!
Whatever your tax planning needs are, we will endeavour to find a tax saving scheme to suit your circumstances so make sure you contact us, especially as there may be more specific tax planning tips and tax advice available for your business sector.
We have included a series of tax tips below which provide general guidance on various tax saving strategies and should answer some of your tax questions.
If you are self-employed and your spouse helps out with general administration, or any other role, it is quite legitimate to pay your spouse a salary.
SMEs with higher rate tax liabilities will benefit significantly from this arrangement if their spouse is a non taxpayer or lower rate taxpayer, and further tax savings could be made by making pension contributions.
Stock should be valued at cost but can be valued at ‘net realisable value’ if this is a lower figure. Essentially this means valued at what you could sell the stock in an open market sale. Lowering the value of closing stock will reduce taxable profits.
Recover VAT on some invoices that you have paid or received before you registered for VAT by including the input VAT on your first return. Make sure you have the VAT invoices and keep a schedule of the adjustments you have made. Be careful though, there are time limits and rules for this recovery measure so be sure to speak with your accountant!
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If you are an entrepreneur looking for accounting firm that helps you manage and grow your business, Safi Accounting has accounting and tax solutions for you. Let us manage your tax, accounting and payroll needs.
We specialize in supporting entrepreneurs. We have professionals accountants who are ready to passionate about supporting you
We enjoy talking to entrepreneurs and
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professionals who are
looking to grow their business. You can visit
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Changing accountants is stress free. There are
no tax implications and you are free to switch at any time in the year and our experts will guide you through the process for a smooth transition.
Everything you need to manage your finances is now in your pocket with our range of mobile apps. We can help you save time on paperwork with our quick and simple to use software solutions.
Online accounting software to help you manage your business finances anywhere.
Online accounting software to help you manage your business finances anywhere. Incredibly easy to use, online accounting software, designed to keep you in control of your figures wherever you are, 24/7. One unified business management suite, encompassing ERP/Financials, CRM and ecommerce for more than 28,000 customers.
One unified business management suite, encompassing ERP/Financials, CRM and ecommerce for more than 28,000 customers.
