Tax payments are a major issue in corporate life which needs to be factored into a company’s strategic planning. Liverpool is home to Silver & Young, chartered accountants, who offer a wide range of services to optimise your tax position.
Here’s how tax planning can help you.
Entity Structure Planning
How you structure your business has considerable implications for your tax liabilities. Part of tax planning is to set up your company and its associated subsidiaries in a way that maximises your tax benefits. This is especially important if you have overseas assets.
Investment Decision Making
Investing is an activity with profound tax implications regardless of whether it is for new plant and machinery, or in the money markets. Knowledge of these implications can help maximise your capital by investing in the most favourable way to suit your tax situation. Such investment decisions require careful consideration and can benefit immensely from the support and guidance from an expert in tax planning.
For example, a planned expansion or acquisition requires considerable investment capital. To safely make such an investment, you have to know the full extent of your future tax obligations. Nothing could be more devastating than an unexpected tax demand that has the potential to cripple your plans for expansion.
Knowing Your Deductions
You may be eligible for deductions that can significantly lower your tax bill. These deductions can take many forms including work related expenses such as travel, educational expenses for training your staff, and charitable donations. Tax planning helps you identify and take advantage of possible deductions.
The ultimate aim of tax planning is to organise your financial affairs in such a way so as to minimise your tax position. By doing so, you will be able to maximise your company’s value and benefit not only yourself, but also your employees and your shareholders.
Only through skillful and careful planning can an organisation navigate through a complex and competitive business world. Be sure your tax obligations are factored into any major decisions you make.
To stay on top of your tax affairs is a complex undertaking requiring sound knowledge of the ever changing tax law landscape. If you need tax planning advice, Liverpool is covered by Silver & Young, chartered accountants. Call us on (02) 9600 7760 for a consultation.