Small Business Tax Saving Tactics 2022/23: Tax Planning for Sole Traders & Partnerships

This tax guide is essential reading for all self-employed business owners (sole traders and partnerships).



It contains over 50 chapters of practical, tried and tested tax saving ideas that your business can implement year-in, year-out, illustrated with easy to follow examples. 



Even those with substantial tax knowledge will uncover many useful nuggets that will help them pay less income tax, national insurance, VAT, capital gains tax and inheritance tax.



The 11th edition was published in January 2023 and is completely up to date.

 

Subjects covered include:

 

All tax announcements made in the November 2022 Autumn StatementFuture tax changes that will affect small business ownersHow to claim a bigger tax deduction when you work from homePaying tax-free salaries to your spouse and childrenHow to claim a bigger tax deduction for travel expenses (flights, hotels, meals) How to make some entertainment costs tax deductibleClaiming tax relief for bad debts and lossesTax saving strategies for e-commerce businessesCapital allowances - how they're calculated and how to maximise your claimSeven chapters on motoring tax issues (cars, vans, fuel, VAT, leasing etc)How to maximise the tax relief on your borrowingsFour chapters dealing with property tax planningTax-free benefits that can be paid to your employeesYear-end tax saving strategiesHow to pay less VATHow to qualify for Business Asset Disposal Relief (10% capital gains tax)Inheritance tax - Everything you need to know about Business Property ReliefThe benefits and drawbacks of using the cash basis

The new edition also has a detailed chapter on the major changes to the way sole traders and partnerships' accounting periods will be treated from 2023/24 and beyond - including tax planning strategies to make the most of the forthcoming changes.