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Best ways to reduce corporation tax - in order?
can_darter
Posts: 11 Forumite
in Cutting tax
Interested to know what others (perhaps any IFAs/accountants on here) would rank as the "best ways to reduce corporation tax"?
e.g.
e.g.
- Pension contributions
- Charity donations
- R&D tax relief (not sure if that's a thing anymore?)
- etc
0
Comments
-
Of course 'it depends'
For example, up until fairly recent pension contributions would have been a no-brainer but with pension pots becoming in scope for IHT then the bigger picture needs to be looked at.
What does your accountant suggest seeing as they know you/your business.
Will say that some people have the mentality that they would rather the business spent £1000 on something it didn't really need than pay £200 tax on that £1000, a mentality I struggle with.3 -
Capital spend through use of capital allowances,
Make a loss (maybe not the best way, but it could be depending on your circumstances)
1
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