Pay Less Tax

Take stock and plan for the future! The time is right now to sit down with us and look at your current financial position. We can help you put together a running cash flow forecast. Assisting with tax reliefs, if applicable and discussing cost saving options, especially during this current climate.

Read more about the latest changes to Capital Gains Tax

Taxation made simple with Rana & Co Accountants

How to save money and pay less tax.

It’s a simple message often told by accountants and financial planners. It is, however, true when you use the services of a reputable accountancy firm like Rana & Co Accountants.

We all need to pay our taxes and receiving rebates can be refreshing. However, paying less tax in the first place, knowing your figures and ensuring you have positive cash flow is something best managed by a professional accountancy firm.

We have split this into 4 separate areas that are helpful to business owners, limited companies and larger organisations.

What Rana provide:

Let’s consider:

Dividend Impact Review

Are you a Director of a Limited Company?

Are you aware of the impacts of taking out dividends?

The tax rules surrounding dividends are catching some people out, resulting in unnecessary tax bills. With careful planning many of these tax bills could be avoided.

April 2016 new tax rules were introduced regarding dividends and these included:

  • Individuals entitled to a tax-free dividend allowance and
  • Dividend income in excess of this allowance, being taxed at various levels and depending upon an individual’s level of income.

Businesses and Limited Companies

This can become quite complex for businesses and limited companies. One of the biggest issues for owner-managed companies is where owners have taken dividends each year to “top up” their income, some even topping up to the higher rate tax threshold.

This can become quite complex especially regarding dividend rules and what is “allowed” within certain thresholds.

Action: Review this position regularly, so you are not caught out and book a Taxation Review with one of our friendly advisors at Rana who can help.

Click here to book a discovery session.

Sole traders and Partnerships

Still thinking about whether to make your business a Limited Company ?

Are you a Sole Trader or in a Partnership arrangement? You may think this doesn’t apply to you regarding taking dividends. However, if your business is growing and you want to expand, it may actually be more tax efficient to operate your company through a limited company instead.

There are certain benefits of becoming a limited company as well as tax efficiency and when profits are becoming visible in your business.

Dividends are taxed in ways that could have an impact on when this decision is made. Or you may want to enjoy potential tax savings. We can help you get this right as sometimes the complexity surrounding a decision like this is better handled with our professional help and support.

Would you like a Dividend Impact Review? Maybe the time is right to move your business forwards as a limited organisation. Call Rana to discuss, our friendly advisors are here to help you.

Click here to book a review/discovery call today…


If you hold shares in exempt savings such as ISA’s or pensions then these are not affected by the recent dividend tax changes or the planned reduction in dividend allowance.

The new dividend tax rules could create a problem for some individuals, who previously have not needed to complete a self-assessment tax return. If tax is due on their dividend income then they will need to notify HMRC and may need to complete and submit a self-assessment tax return, which could catch many individuals out who have never needed to complete a tax return.

If you feel this may be a concern for you, just contact us at Rana & Co Accountants and we can help advise you on the best solution for you.

No one likes paying tax on their savings, so let’s help you get this right.

Click here to book a discovery or review call with one of our friendly advisors.

Company Car Review

We will be able to identify how providing a vehicle through a business will impact on the business and the individual and report on the most cost-efficient options for the individual and the business, together with what actions can be taken.

There are Tax Implications surrounding whether directors do or don’t take out a company car plan.

The “perks” around getting a company car have changed.

The concern is leaning more towards environmental issues, supporting greener policies and encouraging lower emissions from vehicles. Great news is, you have a wider choice of what to do and can save money on company car tax that you pay.

To support this, here at Rana & Co Accountants, we can help you make the best tax efficient decision for you, your family and your company when it comes to your decision.

What will you choose?

  • Company car
  • Personal Car Purchase
  • Car in your personal name or Company Name
  • Lease arrangement
  • Purchase Outright.

There are tax implications for each scenario so let us help you consider the most cost efficient options around a vehicle you use for individual and business. We can help you decide what actions are best for you to take, so you are happy with your decision.

If you already have a company car, let’s discuss where the tax savings can be made. A review will provide the guidance and consider all aspects for you now and future planning when it concerns company vehicles and taxation.

Property Impact Review

We would be happy to explore the options available for your circumstances and help you come up with a plan of action to reduce the impact of the tax changes and possibly even save you some tax.

Got a property portfolio of one or more properties? At Rana we can help you to explore the options to maximise net rental income, so you pay less tax and benefit from your investments, legally.

However, we would urge you to book a property impact review with us to go through the recent changes to the legislation and advise you on benefits you may be missing out on.

Taxable income is increasing for some landlords.

This is applicable to Residential Property landlords with higher rate tax payers with buy-to-let properties as well as basic rate tax payers. This is due to the restrictions on interest relief and how the basic rate tax relief is given.

There is a lot more information on this so please don’t be left out, contact us today for professional advice.

The rules are aimed at all loans relating to a residential property letting business and so could catch loans for a business office, car or similar if used in the business.

Where there is a mixture of property rented out, such a furnished holiday property, or commercial office or factory buildings, as well as residential property then it is only the residential element of the loan interest that falls under the new rules.

Did you know?

These changes do not currently apply to companies, commercial properties or furnished holiday lets, making these more attractive options for property investors going forward.

We would be happy to explore the options available for your circumstances and help you come up with a plan of action to reduce the impact of the tax changes and possibly even save you some tax.

Click here to book a discovery session/review with Rana & Co Accountants

Inheritance Tax

Need to discuss how inheritance tax can affect you or your business? Book a discovery call with us to find out how we can direct you.

Remember, organising your taxes and understanding exactly where your money is going to, may be the last thing you want to discuss at sensitive moments in your life. Being prepared will help to take away the stress as well as enabling you to reduce the amount of inheritance tax when the time comes.

We look forward to your call.

Here to Help at Rana & Co Accountants, business and professional cloud accountants with family values.

Other Taxation Services we provide stress free taxation advice to suit our client’s requirements.

If you want to discuss any element of taxation please do give us a call.

Personal Tax – let us help you

Self Assessment – correct documentation completed at the right time, we can point you in the right direction

VAT – ensure you are on track

MTD – making tax digital is happening, any questions please let us know.

Corporation Tax – as a Limited company, your accountant will ensure you are covered.

Feeling confused about tax and taxation, just give Rana & Co Accountants a call, book a free discovery session and let us help you to pay less tax, be more efficient with your money.

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