What can we do for you?
Increasing the turnover of your practice does not necessarily lead to enhanced wealth and profitability.
It is just as important to focus on areas which will help your business save money.
At Styles and Co we recognise the value of implementing workable strategies that will ensure that you generate and retain more cash in your firm.
Valuable Tax Planning for Partners and Legal Practices
Are you paying more tax than you need to?
Do you meet regularly with your accountant to discuss tax planning initiatives available to you?
Are you always informed, well in advance, about the amount of tax you are expected to pay?
Partners of profitable firms will always have tax to pay, however effective tax planning can help to minimise your present and future liabilities.
We have a dedicated team of tax specialists who will review:
- Now - your current situation and any schemes you have in place
- Where - your plans for the future and the impact of tax to them
- How - ways to minimise the burden of tax
By meeting with you and understanding your practice, partners', personal and family ambitions, we will be able to devise a plan of action in this area to suit you.
Should You or Your Firm Own Your Car?
Depending on your personal and business circumstances there may be a significant difference in the amount of tax which is payable; depending on whether your vehicle is owned by you or your firm.
This is another complex area and we can review your own personal circumstances, whether you operate just one or a fleet of vehicles.
Reducing Unnecessary Waste in Your Practice
Up to 20% of the sales revenue of your practice may be lost in waste every day.
By continuously reducing waste from your firm you will achieve greater profitability and improved cash flow.
At Styles and Co, we are experienced in conducting structured waste audits for firms of solicitors which result in real savings.
Reducting the Impact of Tax Investigations on Your Firm
Tax investigations can be very stressful and may cause even the most compliant partner high levels of anxiety.
Our tax specialists are experienced in dealing directly with HM Revenue and Customs on behalf of a wide range of clients covering many industry sectors. Our expertise, together with our practical approach to handling this sensitive area, often leads to us reaching an expedient conclusion.
In doing so, the impact of any additional tax, penalties and interest could be mitigated whilst freeing you from the anxiety and inconvenience often associated with back-duty enquiries.