Setting up in Business
As you will know only too well, getting a business up and running is an exciting but hugely demanding time.
Challenges way beyond the tax world will be faced by your clients on a daily basis. But any early failure to address the tax issues arising can mean problems brewing further down the line and it is often the advisor who has to pick up the pieces. The TACS Partnership can help you guide new businesses to assist them in addressing issues such as:
- Should the business be run as a Limited company or not?
- What tax compliance systems are needed from day one?
- Can your client get personal tax relief on funds they have put into the business to get it going?
- How should your client pay himself and what taxes will apply?
- What tax issues arise for outside investors?
- What tax relief does your client’s business get when it buys equipment for the business?
- Your client might either rent or buy the business premises. What are the tax issues?
- Your client may have acquired vehicles through a mixture of leases, HP and contract purchase. What is the correct tax treatment?
- The family and friends of the owner work in the business. What tax issues should be considered?
The TACS Partnership can work with you and the young businesses you assist, to help them understand the many tax challenges which these and other questions give rise to. We look to find the best solutions which are tailored to the needs of the business, its directors and owners. We work with you to deliver the optimal tax outcomes for your client.