Data driven optimisation
The current economic climate has forced businesses to focus on cash generation and conservation. Opportunities for cash savings through traditional tax planning are less common and the cost of debt financing has become increasingly more expensive.
However, data is now often contained within a single accounting (ERP) system, rather than being dispersed across multiple stand-alone systems. This enables rapid, automated analysis which can identify multiple savings opportunities across a range of taxes for your business. These benefits, once embedded in systems and processes, can often create recurring high-value tax saving.
Our solutions
Potential areas for cash realisation include:
P&L analysis
- Improved tax classification for P&L adjustments e.g. legal & professional fees, marketing, entertaining and travel. This can be configured to occur at the point of data entry
- Analysis of movements on provisions, accruals and pension contributions through standard/bespoke reporting
Fixed assets
- Improved tax classification at point of data entry e.g. qualifying/non-qualifying/integral features, etc.
- Capture of data for accelerated claims e.g. short-life assets, enhanced capital allowances and revenue items in capital.
Transfer pricing
- Inclusion of Transfer Pricing (TP) data within the ERP system with appropriate links between relevant attributes e.g. profit allocation to individuals, locations and activities.
- Use of standard/bespoke reports to automate TP calculations
VAT
- Cash Generation Package
- Application of a large range of standard tests to data
- Can include VAT accrual acceleration and partial exemption improvement
R&D tax credits
- Identification of costs qualifying for R&D tax credits
- Design of process for capture of spend as it is incurred or improved reporting from existing data sources
- Reduction of manual processes for preparation of R&D claims
- Employee taxes
- Benefits in kind streamlining
- Compensation structuring
- Employee relocation / ex-pat package structuring
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