11th March 2019 Posted by - Alexander Accountancy
Alexander Accountancy saves client over £30,000!
This is what can happen when you get a second opinion. In simple terms, the client was planning to draw out excess cash from their business as dividends. However, their personal circumstances and plans for the business meant there were better alternatives available.
Totally risk free.–Having identified the outcome that was desired and examining all the relevant factors, a new plan was put together. And there was no need to use any clever tax avoidance schemes, pensions or other measures that would tie up funds or could be challenged. Just simple, sound tax planning.
Mission accomplished.– The outcome is that the client will end up with £100,000 sat in a personal bank account to use as they wish and the projected personal tax liability of over £33,000 will be fully mitigated. The final cost is a Corporation Tax liability of less than £3,000 payable by the Company.
This is just one example of how Alexander Accountancy adds value. But every situation is unique and needs bespoke advice which is why Alexander Accountancy offer free reviews to see if and what the opportunities are.
The strategy in the above example is not unique, and other options may also be available. Especially where a business has too much cash or an exit through sale or succession is planned. In some circumstances, it can take two years or more to be ready, so it is never too early to think ahead. Yet in others, if one opportunity has been missed another may be able to save the situation.
Do you have excess cash in your business? Are you planning for a sale or succession as part of your exit strategy? In either case, Alexander Accountancy will be happy to offer a free review. If this could be useful please email firstname.lastname@example.org or telephone Burton 01283 743851