Meeting with us before reaching your year-end is one of the most effective ways of ensuring you remain in control of your business. It will help you know where you stand with tax, profits, drawings and cash flow whilst you can still do something to change the situation in your favour.

Pre year-end meetings are becoming increasingly popular and annual meetings after year-ends are becoming a thing of the past. And rightly so: Tax and business planning is vital to undertake prior to your year-end, as many planning opportunities can be missed if not discussed within the financial year. If your tax planning consists of discussing your year-end accounts with your accountant once they have been prepared then you are not planning, you are reacting!

We typically meet with our clients 4-10 weeks before your financial year-end using interim figures for the current year-to-date to project the likely profits, Corporation tax, personal tax bills etc. This has many key benefits, including:

  • Ensuring your year-end runs smoothly, including agreeing a timetable if required for funding, tenders or to improve credit rating
  • You have plenty of warning of expected tax liabilities
  • Understanding how accounts will be viewed by outside world for things like credit rating, mortgage purposes, finance, or business sale
  • Discussing ways to mitigate your tax liabilities. For example, it might be possible to put more money into your pension, or perhaps buy new capital equipment. Doing these both before your year-end will attract a tax saving
  • Review timing of dividends – this can help make best use of available tax bands and allowances and to ensure that further taxes such as the High-Income Child Benefit Charge are avoided, where possible
  • Checking whether you may be able to claim any reliefs e.g., R&D tax credit
  • Discussing and overcoming ussies to put you in the best tax and financial position for the current year and next
  • Strategic planning – Reviewing your performance based on previous years and identifying and helping to improve areas of your business that are not being fully exploited, are not performing particularly well or to identify what might be your limiting factor to growth

Some of our best clients don’t just have a pre year-end meeting, they have quarterly management accounts and commentary prepared by us for discussion.

If this is something you’d like to discuss and see how it would benefit your business, get in touch with our team by emailing or 01474 853 856 or speak to your Principal Adviser.

Want to find out more?

Call us on (01474) 853856 and we will put you in contact with one of our advisers, or send us an enquiry by clicking below.

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