Tax return ‘Blues’, but effective tax planning can result in a 6.5%* tax rateFeb. 9, 2016, 3:28pm
Was preparing your tax return a disagreeable experience? If so, why?
So 31 January 2016 has now passed and whilst us accountants breathe a collective sigh of relief that the 2014/2015 returns have now been lodged, how do you feel?
- Do you feel that you regularly pay too much tax?
- Do you find that your tax liability each year is a surprise?
- Is the preparation of your tax return a hassle?
If you answered ‘yes’ to any of the above questions, then you might wish to read further:
The amount of your personal tax bill
You might be surprised to learn that with careful planning , your tax liability can be mitigated and in some cases significantly reduced.
The most important component of tax planning isn’t costly and fallible tax avoidance schemes (which we do not advocate), but rather time – planning ahead.
Through our tax planning, we were able to work with a client company and its Directors and achieve an effective tax (corporate and income) and NI rate of just 6.5% *. Yes, just 6.5%!
We were recently engaged by a client and were able to work with them to reduce their 31 January 2016 tax payment by about half. Just think what we may have been able to do, had we had the benefit of that ‘magic’ ingredient ‘time’ and been engaged sooner!
Does this sound appealing? Get in touch!
No more surprises…
We don’t like our clients to have surprises. As such, we work with our clients and estimate the likely tax liabilities in advance.
This is a two way process, we can’t help our clients if they don’t communicate with us, letting us know of the changes in their circumstances for instance. Our clients trust us and work with us to help eliminate nasty surprises!
During the last few months, we haven’t just been preparing the historic 2014/2015 tax returns. We have also been estimating our clients 2015/2016 tax liabilities, as in doing so this enables us to work with our clients to mitigate the future tax payments.
Does this sound good? Get in touch!
Remove the hassle…
We communicate with our clients in a variety of forms, according to their individual preferences.
Many of our clients have benefited from our secure cloud based portal for exchanging information and indeed electronically signing their tax returns. Completely eliminating the need for paper exchanges of documents and postal delays.
Going forward those same clients will benefit from being able to complete electronic checklists to provide their tax return data to us. Those checklists being pre-populated with the data from the prior years tax returns. All again through our secure cloud based portal.
Does this sound attractive? Get in touch!
So, if the preparation of your 2014/2015 tax return was an unpleasant experience…let us work with you for 2015/2016 and beyond. Make your unpleasant experiences a thing of the past.
Contact us today…time is the most important ingredient….don’t delay!