32 ways to extract value, tackle rising costs and reduce tax
Many business owners and individuals will now be faced with challenges in the year ahead including:
- rise in living costs/subsequent rise in wages
- rising inflation
- increased taxes
- repayment of government-backed loans
- rising cost of debt
In this month’s bulletin we’re going to specifically focus on rising taxes and wages and some things for you to consider.
Tax (a quick fix)
There are 32 ways to extract value from your business; or at least this is what we have reduced it down to.
Want to do a quick tax health check on your business? Click here and we’ll send through a checklist for you to fill in.
Wages (and another way to save tax)
For many we are approaching the time when wage rises will be discussed and with the rising cost of inflation pay rises of 5% upwards may commonly be asked for by your team and that is just to maintain their standard of living rather than being seen as a pay rise.
There are ways to counter-act this in terms of providing your team with benefits they have not had previously whilst reducing tax at the same time.
Still not clicked the link above for that checklist and just want to drive straight in; then click here for our template 32 ways to tackle rising costs; whilst reducing tax.