New businesses are quite often left facing difficulties in their second and third years when their income tax obligations start to come home to roost. Tax for one year that hasn’t been due until the next starts to become a liability and a drain on new businesses. Provisional tax obligations start to hurt too, as businesses begin paying taxes in advance from year to year. It is extremely sensible that as part of your business set-up process you consider how you will manage your tax obligations. The business structure you choose has some bearing on the level of tax you will be liable for, but good tax planning and preparation are even more sensible to consider. If you would like generic advice on the management side of your tax obligations before they start to become a major burden, talk to us. We are able to converse with your accountant in terms they understand, and can be an invaluable part of your professional team going forward.