Tax Compliance VS Tax Efficiency

Today we're sharing our answer to a question we hear a lot: "How can accountants help with tax efficiency on top of tax compliance?"

If you're using an accountant, tax compliance is the bare minimum. Compliance deals solely with information from the past, but your accountant should also be looking to the future, advising how you can optimise your profits through new initiatives and through your business structure.

Here are just a few things that your accountant will consider to increase your tax efficiency:

1. The structure of your business: are you most efficient as a sole trader, or would you be able to block tax leakage by making the transition to a limited company, LLP, or group structure.

2. We can find deductions that are usually missed by software or are often over-looked, for example home-office setups and green initiatives.

3.Are your salary and dividends designed to ensure you can keep the highest amount of earnings possible? We'll help you find the optimum ratio.

4.We can help you minimise your admin load in order to save your valuable time and money, directing you through the best habits and software. Time spent uploading receipts can be turned into billable hours or time for innovation.

And more!

Are you getting the most out of your accountants? If you're reviewing your business and wondering how we can help you maximise your tax efficiency, get in touch with us today at info@cadyer.com!