Pre Year-End Tax Planning

Pre-year end planning is an important part of any successful business strategy ensuring 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.

Tax Planning

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. 

Remuneration 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.

Maximising Reliefs

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.

Credit Rating 

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. 

Auditing

Audit

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:

  • Banking and creditor requirements
  • Shareholders
  • Customer requirements

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".

Free, No Obligation Initial Consultation

Call us now to discuss further how we can help you or if you would like a quotation.

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