Here's our ten top tax tips for business start-ups...

1. Look at how much a limited company will save you in tax against the extra costs - they start paying tax at just 19%.
2. Consider paying a wage to your spouse if they help in the business to use up their tax free allowance. Alternatively a partnership with your spouse may be sensible.
3. Think about applying for VAT registration to recover vat on expenses, especially if you mainly supply other vat registered businesses. Do so in plenty of time as delays in getting your VAT number can make it difficult to start trading.
4. Get your books set-up correctly from day one and keep all your receipts. It makes it a lot easier and keeps down your accountancy fees.
5. Set-up your business funding correctly to ensure you get tax relief on any interest paid.
6. Claim use of home as office if you work from home but to ensure you don't get caught for capital gains tax if you sell your house, don't use any part exclusively for business use - some golf clubs stored in the corned should do the trick.
7. Be careful of taking on any workers on a self-employed basis. You must correctly determine if someone is self-employed or an employee and getting it wrong can make you responsible for their tax.
8. One way to claim relief for motor expenses is claiming 40p per mile, so make sure you keep records of business mileage.
9. Value any of your assets you already have that you introduce into the business such as tools and equipment to claim tax relief on.
10. Don't take tax advice from someone down the pub - take advice from an expert.

For further advice on these and lots more start-up tax planning tips, please talk to us.

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