TAX Healthchecks

In carrying out a Tax Healthcheck, we would be tailoring the review to the specific needs of the individual client. Examples of areas covered:-

Income Tax

  • Are you taking advantage of all allowances available?
  • Are you wasting any allowances by claiming too much?
  • Can you structure the timing of income to your advantage?

Business Tax

  • Should your business be incorporated?
  • Have you considered different ownership/remuneration strategies?
  • Have all expenses that can be properly claimed been considered?

VAT

  • Should you register/de-register your business?
  • Have you considered different methods of accounting for VAT – e.g. cash accounting, flat rate, retail schemes?
  • Are you reclaiming input VAT correctly?

These are just a few of the areas that will be looked at, those needing more in depth examination will be expanded on, those of little consequence will be given less prominence. Please feel free to contact us at Lambert Chapman if you would like to know more.

What Next?