Why Paying Tax Isn’t a Bad Thing

Some business owners get frustrated and even upset at the thought of paying tax, and it’s easy to fall into the mindset of wanting to pay nothing at all (and then not save anything for it!).

Here are my thoughts on this, as someone who also has to pay tax:

Paying tax means you’ve made a profit, and profit is good!

It’s proof that your business is working, your hard work is paying off, and you’re building something worthwhile.

Let’s change the way we think about paying tax. Instead of seeing it as a bad thing, how about seeing it as a payment of gratitude for the income you’ve received? It’s a by-product of success and shows that your business model works and your efforts are paying off.

Of course, nobody wants to pay more tax than necessary, and that’s where careful planning, legitimate allowances, and professional advice make all the difference. However, paying some tax? It's a good thing!

So instead of asking, “How can I pay no tax?”, try asking, “How do I make enough profit to pay tax, grow my business, and still keep plenty for me?”. Because paying tax isn’t a punishment from HMRC, it’s proof you’re succeeding.

Need help planning for your next year-end?

If you’re already a client or you’re looking for an accountant to handle your accounts and taxes, we’re here to help. Book a discovery call to see how we can support your business year after year.