Clive Cass Accountant & Tax Consultant

𝗔𝗿𝗲 𝗬𝗼𝘂 𝗖𝗹𝗮𝗶𝗺𝗶𝗻𝗴 𝗘𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴 𝗬𝗼𝘂𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗜𝘀 𝗘𝗻𝘁𝗶𝘁𝗹𝗲𝗱 𝗧𝗼?

Nobody wants to pay more tax than they legitimately need to. Yet business owners can overlook expenses or benefits simply because they don't know what can be claimed.

The rules depend on the expenditure and your circumstances, which is why copying what another business owner does isn't necessarily a good idea.

The important question isn't: "Can my friend claim it?"

It's: "Can MY business legitimately claim it?"

𝙏𝙝𝙖𝙩'𝙨 𝙬𝙝𝙚𝙧𝙚 𝙜𝙤𝙤𝙙 𝙖𝙙𝙫𝙞𝙘𝙚 𝙢𝙖𝙩𝙩𝙚𝙧𝙨.

👉 Follow Clive for more practical UK tax and accountancy guidance.

𝗬𝗼𝘂𝗿 𝗖𝗼𝗺𝗽𝗮𝗻𝘆'𝘀 𝗠𝗼𝗻𝗲𝘆 𝗜𝘀𝗻'𝘁 𝗔𝘂𝘁𝗼𝗺𝗮𝘁𝗶𝗰𝗮𝗹𝗹𝘆 𝗬𝗼𝘂𝗿 𝗠𝗼𝗻𝗲𝘆

If you operate through a limited company, the money sitting in its bank account belongs to the company.

Taking money personally can have tax consequences depending on how it's extracted and recorded. Salary? Dividend? Director's loan? Expenses? Pension contribution?
𝙏𝙝𝙚𝙮 𝙖𝙧𝙚 𝙣𝙤𝙩 𝙞𝙣𝙩𝙚𝙧𝙘𝙝𝙖𝙣𝙜𝙚𝙖𝙗𝙡𝙚.

Before moving significant amounts of money out of your company, understand what you're doing and the potential consequences.

A five-minute conversation beforehand can sometimes prevent a considerably longer conversation afterwards!

👉 Speak to Clive about director and company tax planning.

𝗖𝗼𝗺𝗽𝗮𝗻𝘆 𝗕𝗮𝗻𝗸 𝗔𝗰𝗰𝗼𝘂𝗻𝘁 → 𝗣𝗲𝗿𝘀𝗼𝗻𝗮𝗹 𝗕𝗮𝗻𝗸 𝗔𝗰𝗰𝗼𝘂𝗻𝘁

Running a limited company?

It’s important to remember that money in your company bank account isn’t automatically your personal money. So before transferring money from the business account to yourself, ask:

𝙃𝙤𝙬 𝙨𝙝𝙤𝙪𝙡𝙙 𝙄 𝙩𝙖𝙠𝙚 𝙩𝙝𝙞𝙨 𝙢𝙤𝙣𝙚𝙮 𝙤𝙪𝙩 𝙤𝙛 𝙩𝙝𝙚 𝙘𝙤𝙢𝙥𝙖𝙣𝙮?

Depending on your circumstances, money might be taken as salary, dividends, reimbursement of legitimate expenses, repayment of money you’ve previously lent the company, or through a director’s loan account.

And each can have different tax and accounting consequences.

Simply transferring money between accounts without understanding how it should be treated can leave you with an unexpected tax bill — or create problems with your director’s loan account.

Good tax planning means deciding how to extract money before you extract it, rather than trying to sort everything out afterwards.

💡 Thinking about taking money from your limited company? Speak to Clive before making the transfer.

👉 Book a discovery call at clivecass.co.uk

𝗔𝘀𝗸 𝗔𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁

There are no silly questions.

Well... I've been an accountant for over 30 years, so perhaps I've heard one or two. 😉
But if there's something about tax, accounts or running your business that you've never quite understood, ask me.

I'll select some of your questions and answer them in upcoming posts and videos.

👇 Leave a question in the comments.

𝗧𝘂𝗿𝗻𝗼𝘃𝗲𝗿 𝗜𝘀 𝗩𝗮𝗻𝗶𝘁𝘆. 𝗣𝗿𝗼𝗳𝗶𝘁 𝗣𝗮𝘆𝘀 𝘁𝗵𝗲 𝗕𝗶𝗹𝗹𝘀.

"We've had our best-ever year — turnover is up!".... Great.

But what happened to your profit?

Increasing sales doesn't automatically mean you're making more money.
Costs, margins, staffing, borrowing and overheads all matter.

One of the most valuable things your accounts can do is show you 𝘄𝗵𝗲𝗿𝗲 𝘆𝗼𝘂𝗿 𝗺𝗼𝗻𝗲𝘆 𝗶𝘀 𝗮𝗰𝘁𝘂𝗮𝗹𝗹𝘆 𝗴𝗼𝗶𝗻𝗴.

Your accounts shouldn't simply satisfy HMRC and Companies House; They should help you run a better business.

👉 Want to understand what your numbers are telling you? Let's talk.

𝗪𝗵𝗲𝗻 𝗱𝗼 𝘆𝗼𝘂 𝘀𝗽𝗲𝗮𝗸 𝘁𝗼 𝘆𝗼𝘂𝗿 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁? 𝗣𝗲𝗿𝗵𝗮𝗽𝘀 𝗜𝘁'𝘀 𝗧𝗶𝗺𝗲 𝗪𝗲 𝗛𝗮𝗱 𝗔 𝗖𝗼𝗻𝘃𝗲𝗿𝘀𝗮𝘁𝗶𝗼𝗻...

You don't need to wait until:

❌ Your tax return is due
❌ There's a problem with HMRC
❌ Your accountant retires
❌ You've made a costly decision
❌ Your year end has already passed

Sometimes the best time to speak to an accountant is simply when you start wondering:
"Could I be doing this better?"

If you're a business owner, company director, landlord or property investor and you'd like more proactive accountancy and tax advice, I'd be delighted to hear about what you're doing.

𝙉𝙤 𝙟𝙖𝙧𝙜𝙤𝙣. 𝙉𝙤 𝙝𝙖𝙧𝙙 𝙨𝙚𝙡𝙡. 𝙅𝙪𝙨𝙩 𝙖 𝙘𝙤𝙣𝙫𝙚𝙧𝙨𝙖𝙩𝙞𝙤𝙣 𝙖𝙗𝙤𝙪𝙩 𝙮𝙤𝙪𝙧 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝙖𝙣𝙙 𝙬𝙝𝙚𝙩𝙝𝙚𝙧 𝙄 𝙘𝙖𝙣 𝙝𝙚𝙡𝙥.

👉 Book your Discovery Call with Clive Cass.

𝗬𝗼𝘂𝗿 𝗧𝗮𝘅 𝗥𝗲𝘁𝘂𝗿𝗻 𝗗𝗼𝗲𝘀𝗻'𝘁 𝗦𝗮𝘃𝗲 𝗬𝗼𝘂 𝗧𝗮𝘅

A tax return tells HMRC what has already happened.

Tax planning looks at what you're going to do before you do it.
That's an important difference.
By the time your year-end accounts are prepared, some opportunities to manage your tax position may already have passed.

𝙂𝙤𝙤𝙙 𝙩𝙖𝙭 𝙖𝙙𝙫𝙞𝙘𝙚 𝙨𝙝𝙤𝙪𝙡𝙙 𝙗𝙚 𝙥𝙧𝙤𝙖𝙘𝙩𝙞𝙫𝙚.

It means understanding your business, your plans and your personal circumstances — and considering the tax implications before important decisions are made.

Don't just ask: "How much tax do I owe?"
Ask: "What could we be doing differently?"

Need a more proactive approach to your tax and accounts?

👉 Book a discovery call with Clive.

𝗕𝗼𝗼𝗸 𝗬𝗼𝘂𝗿 𝗗𝗶𝘀𝗰𝗼𝘃𝗲𝗿𝘆 𝗖𝗮𝗹𝗹 𝗔𝗻𝗱 𝗧𝗿𝘆 𝗠𝗲

The best time to improve your finances isn't year end... It's today.

Whether you're a business owner, director or property investor...

Let's have a conversation.

📅 𝗕𝗼𝗼𝗸 𝘆𝗼𝘂𝗿 𝗗𝗶𝘀𝗰𝗼𝘃𝗲𝗿𝘆 𝗖𝗮𝗹𝗹 𝘁𝗼𝗱𝗮𝘆.
https://clivecass.co.uk