Specialists from DFK UK & Ireland, a leading global association of independent accountancy firms and business advisers, will be sharing their expertise at The British & International Franchise Exhibition.
Experts from DFK UK & Ireland’s member firms in Birmingham, Dublin, Edinburgh, Exeter, Liverpool and Newcastle will be on Stand J120 at the show, which takes place on March 15 and 16.
According to DFK UK & Ireland, franchises could be failing to maximise profits by not fully exploiting tax savings that they may be eligible to claim.
Suk Aulak, chairman of DFK UK & Ireland, said the success of a franchise can depend on financial advice and sector knowledge from preparing a business plan, establishing funding and tax planning through to sale valuations. He said: “There are franchise owners and franchisors that are not tapping into the full tax savings that could be available to them through specialist advice which can minimise tax liabilities and maximise profits.
“Through our in-depth sector knowledge we have, for instance, been able to save one retail franchisee £20,000 in tax on a shop fit-out.
“By understanding the needs and issues facing the industry, we can take away the burden of financial reporting and tax planning allowing the franchisee or franchisor more time to concentrate on building their business or network.”
Suk Aulak and Tony Elliott, both from member firm Chantrey Vellacott DFK, will be hosting a free round-table discussion on tax implications for international franchises setting up in the UK at the show on March 15 at 12.40pm.
DFK UK & Ireland has over 30 offices covering the UK and Ireland as well as the Channel Islands and as part of a global association, has extensive international coverage for businesses looking to franchise abroad.