Are you making these costly errors?
Most small business owners are paying more tax than they need to. Here are the five most common mistakes we see — and how to fix them.
1. Not claiming all your allowable expenses
From home office costs to mileage, many business owners leave money on the table simply because they don't know what they can claim.
2. Wrong salary/dividend mix
Getting the balance between salary and dividends wrong can cost you thousands in unnecessary tax every year.
3. Missing R&D tax credits
Many businesses qualify for R&D relief without realising it. If you're solving technical problems in your work, you could be eligible.
4. Not using pension contributions
Pension contributions are one of the most powerful tax planning tools available — and one of the most underused.
5. Being on the wrong VAT scheme
The flat rate scheme can save some businesses thousands, but it's not right for everyone. Have you checked recently?
What to do next
Book a free Tax MOT with our team. We'll look at your setup and tell you exactly where you could be saving.