Pre-year end planning is an important part of any successful business strategy to ensure that planning opportunities are not missed.
Forward planning is crucial, our proactive approach will ensure you maximise the opportunities available.
The planning review will appraise your business and accounts in the final quarter of the year and influence your business in a positive manner.
The planning review will predict all your potential tax liabilities and make recommendations in order to mitigate these in conjunction with your personal and business goals.
The Pierce tax team can advise in all aspects of proactive tax planning.
Profit extraction and how the shareholders and directors of the business are remunerated can have a significant impact on the tax liabilities and profitability in the accounts.
Ensuring that available allowances are utilised and tax reliefs are maximised can dramatically reduce the tax costs of any remuneration package.
The pre-year end planning meeting is a perfect opportunity to take advantage of any pension planning opportunities. We work with your existing financial planner or alternatively we have a partnership with Pareto financial planners who are able to provide financial planning services to help you achieve your business and personal goals.
If acting for the company and the shareholders we can provide a holistic solution which will consider the interactions between the corporate tax position and personal taxes.
Certain tax reliefs are dependant upon, such as the capital allowances regime. During the pre-year end planning meeting we can advise you on how changes in the timing of expenditure can affect the availability of any enhanced relief.
This is also a great opportunity to consider whether there is expenditure which may qualify for Research & Development relief.
A positive credit rating for a business is vital to all stakeholders in the business including creditors, suppliers and customers.
The pre-year end review can provide a snapshot of the current credit rating and provide recommendations of the main drivers that will influence a more positive result.
In addition to the statutory requirements for an audit, set out in the Companies Act 2006, there are other reasons why an audit may be required such as:
At your pre-year end planning meeting we can discuss if an audit is right for you and your business.
There are also times when an audit isn't a requirement but can provide additional value to the business by improving your credit rating if you are looking to refinance, testing the strengths and weaknesses of internal systems (especially relevant for a growing business) and provide "peace of mind".
Our renowned team of experts, each working in a specialised area of taxation, provide first-class tax planning advice to business owners and individuals across the North West.
Financial planning is a key aspect in the success of any business. Cash is essential for a business to survive, many businesses fail within the first two years due to lack of cash. Our team of experts are able to call upon years of experience in the preparation of financial projections and business plans. Using our specialist software, skill and experience we can help you plan ahead and achieve your goals.
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