Effective tax planning can help you optimise or even minimise your tax bill. At a basic level tax planning strategies involve reducing the taxable income, increasing the deductions and availing of various exemptions and reliefs. Deferring the tax liability as a tax planning tool also helps as it frees cash for your business. Choosing appropriate accounting methods (e.g. valuation of inventory) can also impact the tax liability. At an advanced level tax planning involves such tools as restructuring your affairs in the most tax efficient manner.
Our tax planning services include comprehensive tax planning advice. For this purpose we will carry out a full review of your tax position before helping you to:
- Make the most of the tax opportunities available to the industry that you are in
- Identify tax efficient solutions to your day-to-day business challenges
- Take advantage of tax opportunities and reliefs
- Choose the right tax treatment for the capital or revenue items of your business
- Reduce tax on disposals and maximising relief on acquisitions
- Plan your exit from businesses
- Reorganise your business
- Efficiently comply with the tax obligations up to tax self assessment
We can also:
- Advise you of the most tax effective structure for your business
- Advise on a tax-efficient business re-structuring if and when required
- Advise tax-efficient methods for extracting funds from owner-managed businesses
- Act on your behalf in discussions with the tax authorities
In certain situations (e.g. you expect an HM Revenue & Customs enquiry) it may be advisable to buy protection against higher professional fees.
Please contact us for professional tax help
