99.9% of business owners are overpaying tax
Almost all business owners are paying too much tax. It’s stressful, costly, and holds the business back from massive growth.
It all comes down to poor tax advice.
These business owners don’t get a second opinion. They just accept the tax advice they’re given, pay HMRC, and never think any more about it.
These business owners are missing out on vital industry-specific deductions that could slash their tax bills by unbelievable amounts.
They probably have a lack of understanding and confidence around tax.
And it all means they’re taking home less than they should for the hard work they put in.
Let’s think about about the compounding effect of tax overpayment….
If you overpay tax by an average of £12k per year for 10 years, that ends up being £230K of lost cashdow - even if you get a measly 10% return in your business.
Hurts to think about it, doesn’t it!
At a 30% return (which is more likely), it’s a £743,000 of lost cashflow!
And it’s not just the lost cash. It’s also the lost opportunity to use that cash to grow your business.
The result is a minimised tax bill and a maximised cash flow!
Most business owners don’t have an industry specific, Chartered Tax advisor working on their accounts or at least doing a final review.
At GrowFactor we prepare your accounts, then someone else reviews them against our 7-step tax planning process.
We also use specific software at least once a year to perform a diagnostic tax review. We ask questions and input the answers into the software. It uses artificial intelligence to deduce where you are overpaying tax and come up with strategies to put in place to minimise your tax bill.
Humans can miss things.
But a combination of an accountant, a tax accountant and a computer with AI won’t miss a thing!
Curious to see what the most common missed tax deductions are for businesses like yours?
Get a top-10 list of the most missed tax deductions on the link below.
60-minutes of practical tips and actionable advice you can do today. Master your finances, minimise your tax, and scale your business to grow big!