Tax-efficient practices for businesses

02 March 2023
Volume 12 · Issue 2


Regardless of the sector a business operates in or the size of the organisation, it needs to be run taxefficiently. There are, thankfully, many opportunities ready to be legally exploited and Helen Thornley offers guidance on the steps that can be taken to improve your organisation's tax efficiency

Many tax advisers and accountants will be familiar with their clients asking how they can make their firm more tax efficient. It is a very valid question: one management should not hesitate to ask.

The question can be asked at any time in the tax year, but may be best following a discussion of the organisation's latest set of accounts. At that point, the adviser will have all the details of the firm fresh in their mind and so it will just be a case of taking a step back to look at the wider picture.

It should be remembered that tax efficiency is not just about minimising immediate liabilities to income tax or corporation tax – for those looking to retire or sell up in the next 5 years, tax efficiency should also include consideration of taxes such as Capital Gains Tax and Inheritance Tax, where there are reliefs available to owners.

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