Small Business Tax Saving Tactics Paperback – 25 Nov 2011
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About the Author
Carl Bayley BSc ACA is one of the country's most respected tax experts and is a regular contributor to TV and radio programmes and national newspapers on tax matters. He sits on the governing council of the Institute of Chartered Accountants in England and Wales.
Nick Braun PhD is Taxcafe's Managing Director and has been involved in the tax publishing world since 1989 as a writer, editor and publisher.
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Top Customer Reviews
Similarly business owners will find this book useful in order to ensure that they (and their accountants!) are aware of all the possibilities open to them in order to ensure that they pay the correct amount of tax whilst at the same time taking advantage of any tax breaks that are available.
OK it's not bed time reading, except for some accountants, but it is broken up into reasonably compact sections that are written in a readable format with relevant examples.
My only slight quibble is that there is no detailed index at the back of the book for quick reference, but this is mitigated by the fact that the contents at the front are pretty detailed so you should find your way around without too much trouble
As the other reviewer has mentioned, it's written in a fairly straightforward manner, so you don't have to be an accountant to understand it. I won't describe all the gems in there as it wouldn't be fair on the writers, but it covers a lot to with what is classed as a capital/business expense, then there's things for home businesses to claim against which i had never considered, entrepreneur's relief, vat and even inheritance tax and how as a business owner, you can have inheritance tax relief on your business.. In particular i found the section on claiming the cost of business trips useful and selling up your business.
What i like about this book is that it is very clear as to what qualifies as a tax relief/allowance/expense and what doesn't, and how you organise your finances to pay the least amount of tax. The last section compares the tax and NI payments of a sole trader compared to a company and this has led me to considering the next book, the benefits of running a company!
I am setting up a business and soon realized that this book could help me in so many ways. The clearly written explanations, illustrated with case studies, make this book very accessible.
The practical strategies for calculating how much to claim for using your home as an office is particularly useful in ensuring you claim as much tax relief as possible without overstating the usage.
The chapter on maximizing tax relief on borrowing was extremely enlightening, especially the tax benefits of offset mortgages.
As my business involves buying and selling, the advice about separating the loan arrangement solicitors' fees rather than adding them to the mortgage will save me hundreds of pounds.
I strongly recommend this book to anyone starting out in business but I also commend it to people already in business so that they can understand what tax relief they can claim and advise their accountants accordingly.
Anyone with a business in the UK should read it even if they thing they or their accountant knows it all already. They are virtually certain to save more than the cost of the book plus the value of the time spent reading and acting it.
Most Recent Customer Reviews
I have used Carl Bayley's Tax Cafe guides for some years and this new edition of 'Small Business Tax Saving Tactics' hasn't let me down. Read morePublished 23 months ago by Berenice A.
This book is an absolute must for all sole traders and small business owners. It lays out in simple, clear terms all aspects that you need to be aware of. Read morePublished 23 months ago by William B.
This book is really well written and easy to read. I have given it 5 stars as the advice is very clear and comprehensive and its a great reference point for all small businesses. Read morePublished 23 months ago by Ellie
An excellent book full of very useful information and written in a very user friendly way that makes it really easy to understand. Read morePublished 23 months ago by Henry Solomon
I found the book very interesting and easy to understand. The information is well presented and it has become a valuable guide for saving tax with my current home-based business. Read morePublished 23 months ago by Mr M W Brown
This is a helpful book for people running a small business. It is full of good tips including the benefits of accelerating qualifying capital expenditure and the tax relief... Read morePublished 24 months ago by CMILLER