Tax saving tips for small businesses in Coventry - business advisers accountants
                     Tax saving tips for 
small businesses in 
Coventry
Cheylesmore Accountants
Tax saving tips for small 
businesses in Coventry
The most important thing is corporate tax planning 
that you have to consider when starting a business. In 
this blog, you can get how to set up tax properly, tax-
saving tips to make important savings.
Common tax mistakes 
that businesses make
There are several mistakes that businesses 
make while sorting out the company 
accounts and small business tax in Coventry. 
Here are some of the most common:
• Not separating your business finance accounts 
from your personal which leads to problems in 
arranging taxes and make it more complicated.      
        
• Your bookkeeping takes too long and leaves it 
pending that can lead to a penalty when you do 
not get everything sorted in time.
• Labeling your employees as contractors by 
mistake or by an objective.
• Unaware of tax opportunities available to you.
Tax saving tips
1. Choose the Right Structure
First, you will need to decide a tax-effective 
structure such as limited company, sole trader, 
individual, or something else. It can make a huge 
variation of how much tax you need to pay.
2. The benefit of tax-free benefits
You may be able to take tax-free benefits such as 
mobile phones, health checkups, and staff parties, 
so treat your office staff and get tax-free 
advantages.
Tax saving tips
3. Pay yourself in a tax-efficient way
You should ensure that you are paving yourself in 
an efficient manner. For instance, if you are a 
company, you could pay yourself a salary along 
with dividends as an employee.
4. Stay organized and claim for everything
Organized finance and accounts in advance can 
avoid missing out on expenses that you could 
claim for. And you will able to utilize more time 
getting your taxes in systematic order.
Tax saving tips
5. Work with a professional accountant
A professional and well-experienced 
accountant in Coventry can assist you to save 
your money on taxed by allows you to take benefit 
of corporate tax opportunities while providing 
other advantages to help your business grow.
Tax saving tips for small 
businesses in Coventry
Kindly get in touch today via call on 
02476017778 or email at 
[email protected] or website 
https://www.cheylesmore.com/ and our 
accountants in Coventry will help you in each 
stage of your business.
Tax saving tips for small 
businesses in Coventry
THANK 
YOU