Studies suggest that UK owners of small and start-up businesses will be working overtime this Christmas. 60 per cent of entrepreneurs say that the move is a testament to their commitment to growing their firm, but 34 per cent claim that they simply “can’t afford” to take time off – due to excessive tax burdens and staff shortages.
A study carried out by commercial property directory Bizdaq in recent weeks found that almost half (43 per cent) of small business owners believe that taxes are a key contributing factor to the long hours they feel ‘forced’ to work. A further 17 per cent added that they did not have enough staff in place to cover for them over the Christmas period.
The research highlights the paramount importance of seeking specialist tax and business planning advice from the outset when setting up a new business – and exploring tax-efficient business structures for future expansion.
If you are a small business owner, or you are setting up a new firm and establishing yourself in the business world, it is crucial to make sure that you are supported by expert advice.
Wilson Wright are here to help. We can help you to get ahead in the business world, effectively manage your spending and day-to-day costs, and implement tax-efficient business structures for the future, leaving you with the time you need to focus on your business, or take a well-earned break when you need it.
For more information about our services for start-up businesses, please contact us.
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