Are you missing out on business planning opportunities?

If you wait until after your year end trading date it is already too late to implement a number of strategies that may help you improve your profitability or reduce the impact of income tax or corporation tax. If an interim review is something you have not considered before just complete the ten questions posed by this online facility and we will send you a short report illustrating how you could benefit.

We do not charge for the report we send you. All we need from you is your contact details, email address will do, and of course we would be more than happy to speak with you if you require help or more information.

Questionnaire

  • 1. Do you prepare management accounts at any time before your year end?

  • 2. Do you send copies of management accounts if prepared to your bank? Answer No if management accounts are not prepared.

  • 3. Do you check out the tax and VAT implications when you invest in a significant purchase of new plant, equipment or vehicles?

  • 4. Do you check out the way you take money out of your business to ensure you are minimising income tax and National Insurance contributions?

  • 5. If you are self-employed are you aware that any reduction in your profits, compared to previous year, can result in an opportunity to reduce your tax payments on account?

  • 6. Are you aware that if your business is a Limited Company you can only pay yourself dividends if you have sufficient tax paid reserves on your Balance Sheet?

  • 7. If you are self-employed are you aware that any increase in your profits, compared to previous year, can result in extra tax becoming due next 31 January?

  • 8. Do you review your aged debtor list (the amount owing from your customers) on a regular basis to ensure potential bad debts are minimised?

  • 9. Are you aware that your record keeping needs to meet minimum standards to avoid problems with HMRC?

  • 10. Are you concerned about the costs of producing interim or regular management accounts?