The purpose of our Tax Healthcheck is to identify any issues in your tax systems and procedures before HMRC does!
In carrying out a Tax Healthcheck, we would be tailoring the review to the specific needs of the individual client.
- 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?
- Should your business be incorporated?
- Have you considered different ownership/remuneration strategies?
- Have all
expensesthat can be properly claimed been considered?
- 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
Please feel free to contact us at Lambert Chapman if you would like to know more.
The normal starting point for a Tax Healthcheck is the Personal Tax Return. For the purpose of this article, I wanted to focus on the Corporate Balance Sheet as a vehicle for conducting a Tax Healthcheck. Let’s look at some of the issues which might arise. Fixed...
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