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The Importance Of Tax Planning

For most business owners, tax is one of the biggest costs faced, including VAT, PAYE, NIC, Corporation Tax etc. Therefore, good tax planning is an important ally to you and the key question you need to ask yourself is, what are the characteristics of a great tax adviser?

  • Does your adviser ensure that tax based decisions are based on high quality, up to date financial information?
  • Has your adviser taken the time to get to know your business and personal circumstances, rather than trying to sell you a series of products?
  • Do you see your adviser regularly?
  • Does your adviser talk in technical jargon or do they take the trouble to ensure you only implement planning that you are fully comfortable with?
  • Is the advice you receive commercial and pragmatic?
  • Are tax decisions taken in isolation or with reference to your wider commercial circumstances?
  • Does the advice reach you in good time or is it always last minute?
  • Does your adviser have the relevant experience and track record?

The above questions can be summarised very easily into one – does your tax adviser really know you?

As a client, you are entitled, as a bare minimum, to expect that the advice you receive is technically correct but there is so much more to great tax planning than that. If you are not comfortable that the advice you are receiving is delivering everything you are looking for, then give us a call and see if our EQ Taxperts can deliver that kind of tax support.

As an example of how we work, read our case study on how we deliver tax support to a manufacturing client we recently recruited here.

To discuss your circumstances, please contact our EQ Taxperts by calling one of our offices or emailing [email protected].

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