The importance of pre financial year end reviews

Peter Morris - Torr Waterfield

At Torr Waterfield we are always looking at ways to remain pro active with our clients ensuring they are ahead of the game in keeping their taxes to a minimum each year. One such way is to contact us ahead of your financial year, especially if you know you are having successful one, this way we can identify opportunities for you to reduce your potential tax liabilities. This can be in various ways, such as investing in Plant and equipment that will not only reduce your tax but can also make you more efficient and profitable. Or if you run a limited company it may be a case of making a one off contribution towards a company pension scheme, that not only reduces your corporation tax, it generates funds for you as an individual to benefit from in later life. If these discussions take place after your yearend we can’t back date these opportunities and tax savings are lost. With 31 March being by far the most popular year end, now should be the time to contact your client manager at Torr Waterfield and let us see how we can help.

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