if you operate a small business then tax planning is a very important factor that is often overlooked with small businesses, but it should not.
Everyone hopes to have a successful business, to turn their skills, inspiration, and hard work into hard cash. Many businesses fail because they take cash out of the business too soon. If you have cash in the bank you need to know if it’s yours to keep, or if it should be set aside for future spending, or for VAT and taxation liabilities.
You need to learn how to plan ahead. Burrow and Crowe can help you manage your present and future finances by preparing detailed cash flow forecasts. On a day-to-day basis, we can help you interpret your trading results and predict the level of funds you need to set aside for tax.
A business should not be driven by its taxation liabilities, but it should make astute financial decisions to reduce liabilities wherever possible. Our expert and up to date knowledge of taxation rules can help you make the right decision based upon the best advice.
In particular, you should seek advice if you are considering : –
Investing in property
Investing in fixed assets, plant and machinery
Buying a business
Making pension payments
To view our 2008 / 09 tax rates handbook please click here.
For further information on small business tax planning please contact Jon Crossley.
Tel: 0113 259 1666
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