Are You Overpaying Tax? Free Quiz
Most UK business owners pay more tax than they need to — not because they are doing anything wrong, but because they have never had someone check whether they are doing everything right. Common missed savings include wrong business structure, unclaimed expenses, missed pension relief, and poor timing of purchases.
This 8-question quiz checks the most common areas where business owners lose money. It takes about two minutes, and at the end you will see your tax efficiency score, an estimated saving range, and specific tips for the areas where you could be paying less.
How it works: Answer each question honestly based on your current situation. There are no trick questions — just a straightforward check of whether you are making the most of the tax reliefs available to you.
What this quiz covers
The quiz checks eight areas where UK business owners most commonly overpay tax: business structure, salary and dividend split, expense claims, pension contributions, purchase timing, capital allowances, the £100k–£125k tax trap, and whether you have had a proactive tax review in the last year.
These are not obscure loopholes. They are standard, HMRC-approved reliefs and strategies that most accountants would recommend — the problem is that many business owners never get asked about them. If your accountant only handles compliance (filing returns, submitting accounts), you may be missing out on thousands of pounds in legitimate tax savings every year.
Frequently asked questions
How accurate are the estimated savings?
The saving ranges shown are based on typical amounts we see with clients at similar levels of tax efficiency. Your actual savings depend on your income level, business structure, and specific circumstances. The quiz is designed to flag areas worth investigating, not to give a precise figure — that requires a proper review of your numbers.
What is the 60% tax trap?
Between £100,000 and £125,140 of income, your personal allowance is gradually withdrawn at a rate of £1 for every £2 of income above £100,000. This creates an effective marginal tax rate of 60% on income in this band. Pension contributions are one of the most effective ways to reduce your adjusted net income below £100,000 and recover the full personal allowance.
What expenses do business owners typically miss?
Common missed expense claims include working from home allowance, business mileage at HMRC-approved rates, professional subscriptions and memberships, training and development courses, business use of personal mobile phone and broadband, bank charges and interest, and small equipment purchases. Even individually small claims add up — £200 per month in missed expenses costs a higher-rate taxpayer £960 per year in unnecessary tax.
Is this quiz suitable for sole traders?
Yes. While some questions are specific to limited company directors (such as salary and dividend split), most areas — expenses, pension contributions, timing, allowances and tax planning — apply equally to sole traders. The quiz accounts for this by offering a "not applicable" option where relevant.
Related tools
Want to find out exactly how much you could save?
A 15-minute discovery call with a chartered accountant can identify the specific tax savings available to your business — no obligation.
Book a free discovery callThis quiz provides general guidance only and does not constitute tax advice. Savings estimates are indicative based on typical client scenarios. Individual circumstances vary — always seek professional advice before making changes to your tax arrangements. Grosvenor Solutions is a trading name of Imperial Consulting Limited.