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20 inspiring (and legal) small business tax saving tactics Take money out of your business in the most tax-efficient way. ... Pay your spouse a tax-efficient salary. ... Consider paying class 2 National Insurance Contributions. ... Make key employees partners if you're a sole trader or partnership. 5 Ways for Small Business Owners to Reduce Their Taxable Income Employ a Family Member. Start a Retirement Plan. Save Money for Healthcare Needs. Change Your Business Structure. Deduct Travel Expenses. The Bottom Line.
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