Our tax year end call gives you the opportunity to go tell us about upcoming plans for your limited company so we can help you plan accordingly especially for big events such as starting a new contract, buying a home. During the call we run through the current position of your company, looking at the reserves, expenses, and will review with you any areas to be aware of such as director loans.
We also take a look at the personal tax side of things - as no one wants a surprise tax bill come January! We look at the salary and level of dividends taken through your company to give you an estimate of your next personal tax bill, so you can check you're on track with setting aside the tax personally or start putting a plan in place for paying your personal tax bill - due next January. Gives plenty of time in advance to get saving.
Now is the time to check you are making the most of your current tax year's allowances before its too late. Our accountants will talk you through how to use any unused allowances before the tax year finishes. Along with talking you through a couple of tax planning areas to reduce company and personal tax liabilities such as pension contributions and insurances (where applicable).
We finish up with a quick overview of the changes coming into effect in the new tax year such as updated tax rates (personal tax-free allowance), legislation changes and anything else you might need to be aware of (IR35/Brexit/MTD)
Our accountants are proactive and want you to understand your finances - as well as your taxes. Our tax calls give you greater clarity and help you plan your finances for the year.
This a great time for us to touch base to go through any questions you may have, not just around the day to day running of your company, but looking further ahead. It's a good opportunity to help our clients understand their upcoming tax bills, plan ahead for these and a general catch up
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