Tax and Cash Flow Planning Made Easy

As we step into a new tax year, it’s the perfect opportunity to strengthen your financial footing and optimise cash flow. Here’s how you can set your business up for success:

1. Get Tax-Ready

Assess your tax situation: Take stock of upcoming tax liabilities and potential savings. Review deductible expenses, tax bills, and opportunities to adjust costs now to save later.

Organise your records: Keep invoices, expenses, and payroll records in order to avoid last-minute stress. Building good record-keeping habits now will streamline future tax seasons.

Address tax debts early: Inland Revenue is tightening compliance, so review your tax obligations promptly. If needed, we can help manage communications and arrange payment plans.

2. Strengthen Cash Flow

A robust cash flow strategy ensures resilience during economic changes:

Forecast upcoming expenses: Identify major costs and plan your budget accordingly.

Learn from last year: Analyse financial trends, unexpected expenses, and areas for improvement to refine your plans for the year ahead.

Review pricing and margins: Ensure your prices remain competitive and profitable by adjusting them to reflect rising costs and customer demand.

Optimise invoicing: Consider using eInvoicing to speed up payments and reduce delays. Set clear payment terms and automate reminders to improve cash flow.

Build a financial buffer: Establishing a cash reserve can protect against slower months or unexpected expenses. Even saving a small percentage of revenue regularly can make a significant difference.

If you need guidance or have questions, our team is here to support you every step of the way.