Minimising Business Tax Charges

The dates chosen for starting or ending a business and for its accounting year end can make an important difference to the tax position and cash flow. Similarly, the timing of important transactions or purchases of capital equipment can have a significant effect. It pays to consult ER Grove before committing yourself to a decision on timing, since you may be able to save tax or delay the payment of tax.
Most expenses of running a business are tax deductible but there are exceptions. ER Grove can help to ensure that all legally available tax allowances have been claimed and also to achieve maximum benefit from the timing of capital allowance claims.

The tax implications should always be considered when investing in new equipment, buying a new car or undertaking any other major expenditure. Depending on circumstances, the best approach might be outright purchase, loan finance, hire purchase or leasing contract.

Dividing a company's operations into subsidiary companies or branches may provide tax advantages, as may the formation of a company by a Sole Trader whose business is expanding rapidly.

Trading or setting up overseas brings its own problems which can sometimes be extremely complex. To assess the tax advantages and disadvantages of overseas operations, you need to get expert advice.