Taking time to prepare for the year ahead

As global economy uncertainty continues it is crucial that businesses and individuals are prepared for more potentially financially testing times in the year ahead. 

Now is the time to act and focus on your tax and financial planning in order to minimise tax, reduce risk, and be prepared financially for the year ahead. Effective tax planning is something that should be considered year round and by making it a priority could result in you paying less tax liability.

By preparing and updating a forecast of income and outgoings, businesses can identify times when money may be short and plan accordingly. With the end of tax year nearing, it is crucial to complete any last minute tax planning sooner, rather than later.

The current tax year ends on June 30 so it is a good idea to get in touch with Wallace Partners Accountants and Advisors to ensure that you have everything in order.

Following some fundamental guidelines will help ensure that your business is prepared for the financial year ahead.