Legal Ways to Pay as Little Tax as Possible

[Blurock]

Effective tax planning is the best way to pay less tax.

Accountants have to make sense of what you have done during the year. The trick is to consult them before you do things, so that they can assist you in doing things tax effectively, rather than merely account for the tax after the event.

Thanks Clive. My experience is that businesses that use their accountants and book keepers effectively, are usually more profitable too. People tend to skimp on paying accountants because they do not generate revenue and are therefore seen as an expense and a burden.

A good accountant can save you a lot of money and prevent unnecessary penalties and fines to the business. A good accountant can also assist you by calculating optimum stock levels, cash flow planning and by compiling regular management reports including debtors and creditors age analysis, number of days outstanding, costing and profit margins and general management ratios.