Page 18 - KFMS Your Own FD Ebook

Taxation

Because tax is fundamentally complex, delegating this responsibility to Your Own (part-time) FD is
the practical way forward.

Taxation encompasses a whole raft of legislation covering:

• VAT

• PAYE

• Corporation Tax
• Capital Gains Tax

An experienced FD will:

• Ensure efficient and effective systems and processes are in place to ensure that tax
deadlines, both filing, and payment are met

• Ensure all systems which record data do so in the most effective way for tax purposes

• Ensure all legal documentation i.e. those that dictate the terms of business for sales,

purchasing, terms and conditions, not only protect the company but also reflect current
legislation.

• Ensure that the business is as tax efficient as possible.

For more complex tax and legal matters, it is sensible to engage specialist advisors to ensure you
have the best possible tax planning in place.

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