Deferring your income for tax purposes

As the amount of income tax you have to pay is determined on an annual basis it is important to ensure items of income are allocated correctly to a particular year. Although common sense will get the right answer in most situations, being aware of some of the concepts around this topic could help you to identify amounts that should be deferred. Deferring income will have the effect of decreasing the amount of income tax payable in the current year, thereby providing a cash flow advantage.

 

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Planning ahead – New Financial Year

Did your New Year’s resolutions include making significant changes, gaining control over, or simply maintaining your business in its current form? If so, putting a plan in place will help you think through the critical aspects of your business and help you to make good decisions in the year ahead. Like a map, a plan can help you to see where you want to go and will help you feel more confident about how to get there. Two effective tools for planning are budgets and cash flow forecasts.

 

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End-of-year tax information checklist

It’s that time of the year again when you’ll need to start gathering together your accounting and tax information for the year ended 31 March 2014.

Set out below is a list of items that will assist you with this process, and remind you of some of your tax obligations.

Penalties regime

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End-of-year tax information checklist

It’s that time of the year again when you’ll need to start gathering together your accounting and tax information for the year ended 31 March 2014.

Set out below is a list of items that will assist you with this process, and remind you of some of your tax obligations.

Penalties regime

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Turn a complainer into a powerful advocate

It’s always better to hang on to your existing customers, than to seek new ones. Getting new customers is expensive and time-consuming. 

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Five marketing mistakes within an hour

Our storyteller needed a plumber. 

He was just going out for the evening when he saw a trickle of water coming out of the cupboard. As a newcomer to the area he looked for a plumber on the internet. There he was, the plumber available 24/7!

“I rang him. Yes, he would come within the hour.”

Phil turned out to be a very likeable fellow. He said  he got fed up working for the boss and decided to set up his own business. However, the business wasn’t working very well. He said it was hard to get customers.

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Plan now for year-end tax

With a bit of planning, you can reduce your tax and your year-end accounts can be hassle-free. Here are a few tips.

 

Bad debts

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Can’t pay tax? Options are available

Some people who can’t pay their tax let the problem fester. Our advice: Don’t! 

We can help you to do the following:

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