Setting up in Business
Getting a business up and running is an exciting but hugely demanding time.
Challenges way beyond the tax world will be faced on a daily basis. But any early failure to address the tax issues arising can mean problems brewing further down the line. The TACS Partnership can guide new businesses and help them address issues such as:
- Should the business be run as a Limited company or not?
- What tax compliance systems are needed from day one?
- Can I get personal tax relief on funds I have put into the business to get it going?
- How do I pay myself and what taxes apply?
- What tax issues arise for outside investors?
- What tax relief does my business get when it buys equipment for the business?
- I can rent or buy the business premises. What are the tax issues?
- I have acquired vehicles through a mixture of leases, HP and contract purchase. What is the tax treatment?
- My family and friends work in the business. What tax issues should I consider?
The TACS Partnership will work with young businesses to help them understand the many tax challenges which these and other questions give rise to, finding the best solutions tailored to the needs of the business, its directors and owners.