We can all quite easily waste our time being busy fools. Perhaps it even feels good. I know I’ve been guilty of it. We put big things off and instead get immersed in the mountain of little things that are always there to do every day.
We can never get past the mountain because it keeps growing. This is a normal state of affairs for anyone with a reasonable level of responsibility in a job that is moderately complex. It brings to mind the parallels I see with our clients. Dental practice owners come to us for different reasons, but the common denominator is they want to do things differently. They don’t just want a normal accountant who does what he’s told and doesn’t ask any questions.
While that usually feels comfortable, because that kind of accountant won’t challenge you to think in terms of business growth and change, it obviously comes with a cost. The cost is that opportunities to build the business are missed, so it will take you longer to reach your financial goals.
A dental practice owner who doesn’t want to engage with his accountant about ways to save money is going to take longer to grow his business. All of our clients already know that we take tax efficiency just as seriously as the price and value of the practice you are buying and, later, EBITDA as ingredients for financial success.
If we are talking about getting you from A to B, they are not really separate. So why favour one over the other? You can make a serious amount of money by buying well, and you can do the same by structuring your business tax efficiently. If this turns out to be money that you can spare, then you can plough it into any business development plans you have.
That means you will get to where you are going faster. With your goals achieved faster, you make even more money because the costs incurred fall. So we are talking about potentially exponential gains here, all thanks to the boring tax department at an accountancy firm.
But one thing to take away if you haven’t worked with us before: we’re not your average accountants. We always establish an income tax strategy for our clients, and we work with a lot of big businesses like multi-site dental practices so our advice is well tested.
Just think, if you don’t get efficient on your tax you might waste all that hard work by giving all the money that should be fuelling your business growth to HMRC. We can provide you with all the tax strategy you need, in fact the only limit is how willing you are to engage with us.
We can’t help people who don’t want to be helped, and we see this with people sometimes on the question of Inheritance Tax. These issues need to be engaged with to be solved, and we will always help you do that. Me and my colleague Aleks work on business restructures, business purchases and sales. We deal with Inheritance Tax, Capital Gains Tax and non-residency tax planning.
We know how to fix problems you aren’t aware you have. So if you want to find out what you’re missing, please call us for a chat.
