Sarah’s child helped her reduce her taxes by £1kSurface Transport & Logistics
Sarah, who is an IT contractor operating through a limited company wanted to reduce her taxes during her companies year end.
Sarah took advantages of child care vouchers in order to reduce her taxes.
challenge
Sarah was looking for ways to reduce her taxes. She had already exhausted all her expenses that she could offset against her revenue.
solution
We introduced the idea that she could have her limited company contributed towards her childs, childcare cost. This meant that her company could actually purchased childcare vouchers from EDENRED for £243 per month. This meant that the company could contribute upto £3,000 for the year towards her revenue, this reducing her tax.
results
The result was that Sarah was able to reduce her tax liability by almost a thousand pounds.
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