How to Pay less Tax

How to pay less tax 🤪 Here are my top 7 strategies if you’re looking to pay less tax this year… 1 - Don’t do any bookkeeping… What a waste of time ⏰ At year end simply put all of your paperwork (money related or not) into a plastic carrier or shoebox and pass to your accountant to sift through and sort. Easy peasy! 2 - Bring on deadline day 📆 If HMRC give you 10 months to file and pay your tax return… make the most of those 10 months. Nobody likes a eager beaver anyway 🙄 3 - Don’t track your sales… If your income is lower because you’ve forgotten to invoice someone or chase overdue payments, it means you’ll make less of a profit and pay less tax 💸 Ca-Ching! 4 - Spend all your money, let that money burn a hole. Overspend, overspend, overspend. I’ll reiterate what I said in point 3… make less of a profit and pay less tax 💰 Double Ca-Ching! 5 - Ignore your suppliers 🫣 They’ll hound you on a daily basis before finally passing you on to a debt collector, imposing interest and taking you to court. Oooh it’s like a game of cat and mouse. Meow! 6 - Spend other people’s money. Once you’ve spent all of yours and maxed out your suppliers… Move on to bank loans, credit cards and overdrafts. You have to make the most of these opportunities after all. 7 - Fully commit to NOT knowing your numbers, that 1-1 know your numbers strategy day hosted by Ivy Wood is enough to send anyone to sleep… bore off 🥱 Disclaimer ⚠️ All of the above is bad advice purely for entertainment purposes. But I know secretly it got you thinking. Let’s celebrate making a profit in our businesses, paying tax and paying yourself more 🍾🥂 And if you’re not sure where to start, please check out our 1-1 strategy day, because we will work through everything plus some more. It’s time to master your money 💰💰