'10 Minute Tip' by Tony Byrne - Chartered Financial Planner - 7am until 9:30am
Tony Byrne has over 30 years experience as a Chartered Financial Planner having previously worked as an accountant. Tony specialises in advising owners of small and medium sized businesses. He also advises business executives including retired owners of small and medium sized businesses and business executives.
Tony’s company, Wealth and Tax Management, literally does what it says on the tin. He even has a tin to prove it :-) They are a multi awards winning business and have been ranked as a Citywire/NMA top 100 Independent Financial Adviser firm for 4 out of the last 5 years.Watch Tony's videos on YouTube
Tony is offering a free one-hour personal consultation normally charged at £150 to everybody who attends this meeting.
About the conversation:
How to extract money from your business tax efficiently
Discover how to maximise your pension contributions and your spouse’s/partner’s contributions from your business. It is after all a tax-free benefit in kind.
Consider employing your spouse/partner and your children, if applicable, especially if they have no other income. Ensure they actually work for your business.
Take advantage of the salary sacrifice electric car scheme. The benefit in kind tax charge is extremely low for 100% electric cars.
Claim all eligible business expenses through your business. You can potentially claim back both VAT and Income Tax/Corporation Tax on such expenses which come out of your pre tax income rather than your post tax income.
Taxation is one of the biggest expenses of successful small business owners. Focus your efforts on reducing this expense as much if not more than any other expenses in your business. This will increase your wealth and enable you to retire comfortably one day.
