The new financial year may already be underway, but there’s still plenty of time to step back, review your plans and make sure your business is heading in the right direction.
For many business owners, the first few months of the financial year pass in a blur of client work, deadlines and day-to-day demands. Before long, the plans made in April are competing with the realities of running a business.
At Porter Garland, we work alongside owner-managed businesses, property clients and private individuals throughout Surrey, Hampshire, Berkshire and beyond, helping them navigate change and make confident financial decisions. As business owners ourselves, we understand how easy it is for strategic planning to slip down the priority list.
Now is the ideal time to pause and ask:
“Are we making the most of the opportunities available to us this financial year?”
Here are six practical areas we recommend reviewing.
Start with Cash Flow
Cash flow remains the lifeblood of every business.
Whether you’re operating a growing company, managing a portfolio of properties or overseeing a residents’ management company, understanding how money moves through your organisation is essential.
Take the opportunity to review:
- Outstanding debts and collection processes
- Supplier payment terms
- Seasonal fluctuations in income and expenditure
- Available cash reserves
- Planned investment over the remainder of the year
Strong cash flow forecasting provides confidence. It allows you to recruit, invest and grow without constantly looking over your shoulder.
Review Pension Contributions
Pension planning isn’t simply about retirement.
For directors and business owners, employer pension contributions can form part of a wider tax-efficient strategy while helping build long-term financial security.
As tax allowances and personal circumstances evolve, it’s worth checking that your contribution levels still align with your wider financial goals rather than simply continuing with last year’s arrangements.
This is an area where personalised advice can make a significant difference.
Reassess Director Remuneration
One of the most common mistakes we see is businesses repeating last year’s remuneration strategy without review.
The optimal balance between salary, dividends and pension contributions can change as legislation, allowances and personal circumstances evolve.
At Porter Garland, we work closely with directors to ensure remuneration packages remain both compliant and tax efficient, tailored to the individual rather than relying on a standard formula.
Because no two business owners are exactly alike.
Take Another Look at Your Dividend Strategy
Dividends continue to play an important role for many of our clients.
However, with changing tax thresholds and increased scrutiny around planning, it’s worth revisiting whether your current approach still delivers the best outcome for the months ahead.
Consider:
- Timing of dividend payments
- Levels of retained profit
- Future personal income requirements
- Family circumstances and succession planning
Careful planning now can help avoid unexpected tax liabilities later in the financial year.
Focus on Tax-Efficient Planning
The best tax planning happens well before deadlines arrive.
If you’ve not yet reviewed your tax position this year, now is an excellent opportunity. Too often, valuable tax-saving opportunities are missed because conversations happen after the year end rather than throughout the year.
Proactive tax planning may involve:
- Making use of available allowances and reliefs
- Reviewing capital expenditure plans
- Aligning personal and corporate objectives
- Considering succession and estate planning
- Identifying opportunities specific to property ownership structures
Whether we’re advising ambitious entrepreneurs, landlords, residents’ management companies or individuals looking to preserve family wealth, our focus remains the same: helping our clients pay the right amount of tax — and not a penny more.
Looking Ahead
A successful financial year isn’t built on the plans you made in April alone. It’s built on regularly reviewing your position, adapting where necessary and making informed decisions as your business evolves.
Whether you need support with accountancy and compliance, proactive tax planning or strategic CFO Consulting, Thomas Pottinger, Amanda Williams and the Porter Garland team are here to help you make confident financial decisions throughout the year—not just at year end.
If you’d like to review your business finances or discuss your plans for the remainder of the financial year, we’d be delighted to help. Get in touch with Porter Garland today by booking a discovery call using this link: https://bit.ly/3SKEuU5, to discover how the team can best support you through the stages of your business growth.