Tax is becoming more risky
A few days ago the Crown Prosecution Service (CPS) announced that it will dramatically ramp up the number of tax evasion cases it takes on.
Cases will rise from 200 in 2010 to 1,500 in 2014/15. With a conviction rate of 86% many more people will be facing serious consequences to tax planning. This can include tax consultants as well as their clients.
I have always felt it right to advise my clients how to pay the least amount of tax legally. Some strategies are very simple and low cost, like profit extraction from a Limited Company. Others are more complex but they are all legal.
The difference between legal and illegal is avoidance and evasion respectively. I only help clients avoid tax where they can arrange their affairs in a way to pay less tax.
However, it is getting to a point where if you want more cash in your pocket it maybe more risky trying to save tax than growing your business. So, from now on I will ensure all clients have access to tax planning but also business growth advice.
To do this in an affordable way I will use my Website to deliver advice videos. I call this Ontrack Online and it is based my extensive research as well as knowing what works for me and my clients.
If this is something you’d like to know more about then call me and I’ll set you up a free account.