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5 Tax Mistakes Costing You Thousands

Running a successful business is no small feat. Between managing staff, growing revenue, and looking after your family, it’s easy to let tax planning slip down the priority list. But overlooking even a few key details can quietly cost your business thousands each year.At Doyle Accountants, we work with local business owners just like you — people with thriving companies, growing families, and a clear vision for the future. Here are five of the most common tax mistakes we see, and how to avoi...

The Tax Timing Trap: When Profit and Cash Flow Disconnect in Property Development

Property developers often face a challenging financial reality: tax obligations can come due even when cash is nowhere to be found. This disconnect between taxable profit and actual cash on hand can create serious liquidity problems for unwary developers. Let's explore this scenario through a real-world example.The Initial Success: A Profitable First DealOur property developer, let's call him David, identifies an opportunity in the market:David purchases a property for $500,000After renovations ...

Beyond the Basics: Cash Flow vs. Profita-bility in Business Operations

While many business owners understand the fundamental difference between cash and profit, the relationship between these two financial concepts becomes more nuanced when applied to real-world business operations. This article builds on basic principles to explore how timing, scale, and business decisions create complex interactions between cash flow and profitability.Revisiting the Core DistinctionAs a quick refresher:Cash represents the actual money available to your business at a specific mome...

Share Issues

A share issue is a process whereby a company creates and distributes new shares to investors to raise capital. Each share represents partial ownership in the company, entitling shareholders to voting rights, dividends (when declared), and a claim on company assets in proportion to their shareholding.Whilst share issues allow companies to raise funds, this may also dilute any existing shareholders’ ownership percentages.Companies may issue shares for strategic reasons, which are primarily cente...

Buying a Business

A business purchase occurs when one person or entity buys the business assets from another. This typically includes stock, physical assets (like furniture and equipment), and intangible assets such as goodwill, intellectual property, and customer or supplier lists.It's important to distinguish a business purchase from a share purchase:In a business purchase, the buyer purchases the assets of the business.In a share purchase, the buyer purchases the shares of a company, taking ownership of the en...

Shareholder Agreements

A shareholder’s agreement is a legally binding contract between the shareholders of a company that establishes their rights, responsibilities, and obligations to each other and to the company. Private companies with multiple shareholders typically use these agreements to align on company management and direction. It is important to note that a shareholder agreement is separate from the company’s constitution, which sets out the general rules for its operation.Why is it important?A ...

Understanding the Difference Between Cash and Profit

For business owners, distinguishing between cash and profit is crucial for making financial decisions. While these terms are sometimes used interchangeably in casual conversation, they represent fundamentally different financial concepts that can make or break a business.The Basic DistinctionCash refers to the actual money your business has on hand or in the bank at any given moment. It represents your immediate spending power and liquidity.Profit is a financial calculation that measures your bu...

2025 Financial Accounts Checklist

Download our checklists below to assist in gathering the information we need to prepare your annual accounts and tax returns....