Tax planning is about looking not only at the present but also thinking into the future and indeed about the past!
In order for us to decide on the best possible business structure for you, we need to fully understand what you have been doing in the last few years. The reason is simple – if you have been a taxpayer and are now about to set up in business, you might be expecting to make losses in the first year or two. The good news is that there may be opportunities to get tax rebates for income tax that you have paid in the last three years.
We also need to think about the future.
When is the business likely to become profitable and how profitable will it be?
How likely is it that you will want to bring partners into the business?
Do you want to open other businesses in the future?
And what is your personal tax position?
We spend time to understand your circumstances and aspirations so that we can give tax planning advice that is as future proof as possible.