What about tax planning? How can I make sure I pay myself as tax-efficiently as possible?

Basic tax planning is included in your monthly accounting fee. You will need to provide us with details of any other income (e.g. salary or self-employed income) earned during the tax year, as this will impact the most tax efficient amount you can pay yourself from your limited company. We will then do the necessary tax planning for you.

Because you effectively are starting your own business, it is of the utmost importance that you understand all the different tax thresholds so you don’t get any nasty surprises when your self-assessment tax return is due. We have a number of online calculators as well, which you can use to estimate the worst and best case scenarios of paying yourself from your limited company. At Smart Accounting we don’t mind taking extra time to make sure our clients understand all the different tax thresholds. This is probably the single biggest reason why we have so many clients recommending us – we focus on being proactive accountants not reactive accountants.