Lewis & Co (Financial Management) Limited
Chartered Accountants

Tax accountant Ringwood

Small business accountant in Ringwood, Hampshire & Dorset, specialising in small businesses dealing with taxation, management and computer advice

01425 839727


Can I choose how much tax I pay?
No, not if you are an employee, tax is tax and we all have to pay it. If you are self employed you also cannot choose how much tax you pay, it merely depends on how much you earn, what your net profits are.

Only a director/shareholder of their own business gets to choose how much tax they pay by making use of the different tax rules and regulations. Tax is not only complex but also various tax and employment laws overlap. A good tax accountant knows how to make use of the best bits of one set of tax while not getting penalised by the bad bits of another set of rules.

Self employed v limited companies?
What about the difference between sole traders, partnerships, limited companies and limited liability partnerships (LLP's). Which one is more tax efficient?

In most cases, a limited company is still the best option if your net profits are above £20,000 per annum. There are also several advantages for higher rate tax payers because again you can choose how much higher rate tax you want to pay. A lot depends on your own personal circumstances.

Child Tax Credits and university fees?
What if you have young children or teenagers at university. What about the interaction between income tax and child tax credits or university funding?

In both cases, how much you can claim in CTC or grants depends on your income. Again, using a limited company, you can choose what your income is which then determines what tax credits you get or whether your child can claim a non repayable grant instead of taking a student loan.

What else are you looking for from your accountant?
Do you want to know how to improve your profits or do you want to know how to save tax?

The majority of business owners are mainly interested in saving tax. However, I have experience of working with many different businesses, construction, engineering, transport, electronics, retail and consultancy. I know how good businesses work and also what does not work. I find it is important to have the right attitude to running your own business and I may be able to help you by passing on ideas from other successful business owners.

Want to know more?
I provide specialist tax advice for small businesses, looking at your whole tax position and taking into account the interaction of the different taxes, corporation tax, income tax, national insurance, capital gains tax and even the effect of benefits and allowances such as child tax credits.

I can show you the tax potential of changes to your business setup, for example how you take money from your business or how you can build up your business value for a later sale whilst minimising your tax liabilities.

I can also advise you what is legally allowed and what is not regarding tax and statutory legislation.

I am here to help you save tax while trying to help you avoid problems before they happen. Sometimes you may just want to chat over a decision you need to make and you need a second opinion. Other times it is because I am telling you of tax changes that might be suitable for you so we need to discuss them further.

What do you want to discuss? Call or email me and let us talk about you and your business.

Peter Lewis

How much tax can you save as a limited company? Click here to find out

Lewis & Co (Financial Management) Limited - Chartered Accountants
Specialising in tax and business advice for small business
2 Southampton Road, Ringwood BH24 1HY

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