Tips To Improve Your Business – Part Three (Tax, VAT, HMRC)

There is a reason why we say that things are taxing, because tax is not easy, it is not necessarily fair and there is no easy way to understand company tax law.

HMRC make the rules. You must obey the rules. Think of your regular football referee who mistakenly sends a player off, that player may stamp his feet and protest his innocence, but he is still sent off.

Tax is little different, you may protest your innocence, that you didn’t mean it, or simply misunderstood the rules, but the rules still apply and your poor understanding of company tax is your own fault. So, hard cheese on you.

What Can You Do?

There is a simple rule here. Talk to your accountant. If your accountant is not talking to you, then you either talk to them, or find yourself an accountant who will stay in touch with you.

Most of our simple tips can be solved through the above, however our views on tax tips are –

  • Don’t expect HMRC to be understanding. They might be, but only if it suits them
  • Don’t expect company tax to be fair, it isn’t, it won’t be, so don’t expect it to be
  • Don’t expect company tax law to ever be easy to understand. If it was you would understand it, which means less money for HMRC, without being cynical it is complex for HMRC’s own benefit (OK, maybe a little cynical!)
  • Accountancy advice is not costly when it comes to tax. If you think it is then try managing it all yourself and see how much it costs you then!

In simple terms, where company tax, corporation tax, HMRC or VAT is concerned then take good advice early. We can help on all areas of raising finance, or business improvement, but for tax then speak to an expert.

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