TAXATION PLANNING

Tax planning strategies are particularly important for business owners and we recommend a review be carried out for our business clients in April/ May each year (or more regularly if requested). By considering the likely year end tax position, based on the years trading to date, a projection of taxable income and likely projected tax liability can be made. Steps can be taken to legally reduce the potential tax liability of the business and there are a range of strategies available. These strategies are dependent upon the circumstances of the business, the type of structure, and cash flow is always a consideration.