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Our tax advisory services include:
Business structuring
Whether your health and care business is just starting up or expanding we can design and help you implement a tax efficient structure.
As circumstances change it is important to review your business structure. For example, given the introduction of the 50% income tax rate and falling corporate tax rates, we have helped many of our health and care clients to restructure to ensure they are not paying more tax than they have to.
In our experience a few simple changes can improve profitability and secure the future of your business.
Business structuring options include:
- Sole trader
- Limited company
- Group of companies
- Partnership
- Limited liability partnership
- Hybrid partnership with a corporate member
Remuneration planning
We know that in the health and care sector it is vital that you attract, retain and motivate the best staff, whilst controlling the associated costs. We can help you do this by working with you to create a remuneration plan.
A remuneration plan might include:
- A share option scheme
- A bonus plan
- Tax efficient benefits, such as childcare vouchers, low emission cars, mobile phones and pension contributions.
In our experience it can often be that relatively low cost and simple changes to your current remuneration plan can have a positive impact on current staff whilst also being attractive to potential employees.
Business strategy
As the owner of a health and care business it is all to easy to be so focused on running the day to day operations that you don't stop and think about the future. With over 25 years experience in the health and care sector our team can provide an expert, practical and objective view of your business. We can then work with you to create a business strategy.
Your business strategy will set out the targets you want to achieve and the individual objectives which will help you reach your targets.
Once your business strategy is in place and you know where the business is heading it is important to implement each stage of the strategy and monitor progress. We can be as hands on as you want, with regular reviews or you can just turn to us when you have one-off issues you need help with.
If your health and care business is expanding or planning to expand it is vital you review your business strategy to make sure you stay on track to reach your targets. Or it may be that you need to amend your strategy to fit in with your changing business.
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