Timing is crucial when deciding how and when to take money out of the business, whether as drawings, dividends, salaries, or bonuses. If you have money in the bank you need to know whether it’s available to spend or should be set aside for tax and VAT liabilities.
Many businesses fail at the growth stage by taking cash out too soon.
You should also seek advice when you are considering:
- Investing in property
- Investing in fixed assets, plant and machinery
- Buying a business
- Selling up or considering retirement
- Bringing new partners into the business
- Making your pension contributions
How we can help
We can help you plan ahead to ensure you have enough reserves set aside for future spending, or for VAT and tax liabilities.
We’ll help you to manage your present and future finances by preparing a detailed schedule of your tax liabilities and when they are due, enabling you to make provision well in advance. This will maximise your potential earnings, while minimising the tax cost to the business.
Our expert and up-to-date knowledge of tax rules will help you make the right decisions.