Taxman and cashflow

Can anyone advise how to reduce outgoings to the taxman in terms of PAYE, PRSI, VAT, etc… to minimise a businesses outgoings immediately?
I am not looking for suggestions to evade tax.
The Taxman has progressively front loaded payments of taxes due over the years and the outgoings to the taxman are staying constant even though turnover is reduced dramatically. VAT is the real killer. Any advice? What’s legal?

from an employees or a self employed situation?

You’d need to be a little bit more specific there Dipole.

self-employed small business but anything obvious with regard to wages paying to oneself would be useful.

Ltd company or sole trader?

if you were a bank you could loan yourself the money to help with the cash flow.

Otherwise maybe a discount for prompt payment to help with the vat

not limited company.

Sole trader then which means you personally pay tax and PRSI once a year. So are talking about your employees? Also re vat - what are toy trying to do? when you say front loaded payments to Revenue I think you may be referring to the fact that you pay vat to the Revenue when your sales invoices are issued but you can be waiting months before getting paid???

I’m not talking about me. I’m an employee of a massive benign multinational if such a thing exists. Might have details wrong.

OK you can pm me if you wish if you get futher details and I’ll see if I can help.

I am not an accountant, but…

In certain circumstances, a small business can choose whether it pays VAT on a cash or accruals basis; in other words, whether you pay when you invoice or when you receive the money. If you offer long credit terms or have difficulty collecting money, this may make a significant difference.


You will need someone suitably qualified to tell you whether this applies to you, as Revenue do not look kindly on switching methods for no reason or if you’re not entitled to it, AFAIK.