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An Idea A Day by David Thompson

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PROFITABILITY

A TAXING QUESTION

Anne Hawkins

FEW PEOPLE WANT to pay more tax than is necessary.

Tax takes away some of the business’ hard-won profits (and more importantly cash) that you would have loved to keep for other purposes.

The idea

Always remember the important difference between tax avoidance and tax evasion. The first one is a legitimate activity carried out to minimise the cost of tax to the business. If you carry out the second one, you are likely to end up behind bars.

Minimising your liability to the taxman can be greatly aided by getting yourself a good accountant.

If you get it right you may well be able to more than cover ...

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