Start with strategy
Look first at the wood; and only then at the trees
STRATEGIC REVIEW: Review your position
A strategic review of your VAT and/or charity tax affairs – looking both at risk and opportunity – is often the starting point from which other things grow. And you ought to consider carrying out a review at least every five years.
Examples of issues covered:
These are just some examples.
The review usually involves meeting to discuss all of your activities, not only with the finance team, but a variety of people who deal with operational matters in your organisation. This is supported by reviewing contracts, HMRC correspondence, and marketing materials. A written note of advice is then prepared, detailing your position, giving an account of potential risk areas and of areas where the tax position is inefficient or could be improved in some way. This can be rounded off with a meeting and a discussion of the action plan that comes out of the work.
A strategically oriented adviser with an MBA’s formal training in business