accountants
If you are finalising your end of financial year accounts and calculating your tax position, keep in mind that there are still options available to save you tax. One of these options impacts on the valuation of your trading stock and if stock is a material asset in your business, you should most certainly consider it. This option provides you with different valuation methods that can be applied to your trading stock.
Some tax planning only creates timing benefits rather than real savings. So the question is; what delivers real results? The majority of tax planning falls into one of three categories - health and hygiene decisions that every business should review each year, timing benefits, and permanent savings.