Accountancy group launches tax planning service

Exeter accountancy specialists The Fresh Accountancy Company has launched a tax planning service to support smaller regional businesses.

The company, which provides accountancy services to over 200 clients in the South West, is offering ‘no risk tax planning’ to fill what it believes is a gap in the market locally.

This service is designed to help clients to make genuine tax savings, and addresses the misunderstanding that some smaller businesses have about what their accountant does for them.

The Fresh Accountancy Company founder Tom Baker said: “Many businesses assume that their accountant will ensure they pay as little tax as possible. But most of the time, and quite correctly, the accountant simply prepares the accounts and tax returns on the basis of the information they’ve been given. Their responsibility does not extend to giving tax advice.

“Some may ask questions that ultimately lead to savings, but this is the exception, not the rule. And while accountants can certainly look into potential savings for an additional cost, smaller businesses are often nervous of this, as there are no guarantees they’ll make any savings.”

Offering an alternative option, clients using The Fresh Accountancy Company’s no risk tax planning service pay a set monthly fee – which is fully refundable if no tax savings are made.

“We guarantee that the tax savings ideas we offer will exceed the fee paid to us. If this doesn’t happen, we refund the difference between payments and tax savings. So clients aren’t paying extra fees for no beneficial outcome, making it completely risk free. The fee includes implementing the tax saving ideas, at no additional cost.”

The service involves a comprehensive review where The Fresh Accountancy Company team gets to the heart of the client’s business, including personal circumstances and future plans, running through a checklist to pinpoint where potential savings can be found, for example making sure any expenditure is timed correctly.

Baker believes every business should be properly planning their tax affairs. “It’s something wealthier individuals and larger business do as a matter of course. Our new ‘no risk’ service will help many more smaller businesses to pay the least tax they legally can.”