Business owners could be sitting on thousands of pounds in tax efficiencies says a senior accountant from Saint & Co.
Alex Dent, who is a partner at the Carlisle-based firm believes effective tax planning is crucial to a company enjoying robust financial health.
Many business owners struggle to navigate the UK’s complicated tax system, leading to missed opportunities.
To help educate owners of small and medium enterprises, Saint & Co is holding a lunchtime seminar on Wednesday 22 November for clients and non-clients.
Alex said: “We believe we have a responsibility to educate business owners about what is and is not possible when it comes to taxes.
“UK legislation changes frequently and it’s very difficult to keep up when you are focused on running your own enterprise.
“We capture the questions we get asked most often by clients and then present the answers through a number of seminars over the course of a year.
“All businesses want to run as efficiently as possible and, particularly in the current climate, will look at every cost line to ensure peak efficiency.
“However, they often overlook potential tax savings which can be significant. Businesses could literally be sitting on thousands in unlocked efficiencies, so we hope to open our guests’ eyes to the myriad of possibilities out there.”
The lunchtime seminar ‘Tax planning when your main asset is your business’ will be held at Saint & Co’s Carlisle office at Rosehill, covering topics including tax efficient profit extraction, inheritance tax planning with valuable business assets, business asset disposal relief and inheritance liability linked to the sale of a business.
The event is the latest of the firm’s ‘mini bite’ series which has so included sessions on incentivising staff with share schemes and getting a business ready for sale.
Two further sessions are being planned for February on the subject of inheritance tax.
Alex said: “We have held some informative and lively sessions so far this year. They are open to everyone and free to attend so I very much look forward to welcoming guests to our next session.”
