Five Tips to Cut Your Tax Bill

If you take into consideration the amount of tax you have paid over the years in various forms, you may look back and find areas where you could have saved money. According to a tax expert, there are 04 things that you should do in order to reduce your tax burden..

01. Using a limited company

While many people argue against this, tax experts believe, it had been factually incorrect in some cases and its tarnished reputation may have put clients off.

02. Use of spouse allowances

By transferring assets to a non-taxpaying spouse, tax liability savings can be cut to a lower level.

03. Mitigation of Business Property Relief (BPR)

04. Lifestyle changes savings

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http://www.accountingweb.co.uk/article/top-five-tax-advice-tips/534468

Contact KVS Accountants to seek advice on how to save money on tax. KVS acts as tax advisors in Putney, Chelsea, Wandsworth, Fulham, Barnes, Wimbledon, Hammersmith and Kensington.

 

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