New tax planning service launched by The Fresh Accountancy Company

Exeter accountancy specialist The Fresh Accountancy Company has launched an innovative tax planning service to support local businesses.

The company, which provides accountancy services to over 200 clients in the region, 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 explained: “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 an accountant will 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.

“We work collaboratively with our clients, preparing a report looking at the current tax situation, giving recommendations on where tax savings can be found, with regular review meetings.”

Tom adds that looking at ways of making tax savings is something that wealthier individuals and large companies do as a matter of course. “But realistically every business should be properly planning their tax affairs. This new  ‘no risk’ service will help many more smaller business to pay the least tax they legally can.”

Fees for this innovative tax planning service start from £500 plus VAT pcm.