“Our clients are often quite focussed on saving while they are overseas,” said Houlihan.
“They only get one chance at getting it right in relation to tax when they come back to the UK. It can be about timing when they come back during the tax year and how, or if, their final payment is going to be taxed.”
What would your advice be to someone wanting to set up their own firm?
“When you’re starting out there is that anticipation of the unknown and at the end of the day, with a new venture, there is only so much planning you can do,” said Houlihan.
“When you are setting up on your own, cash flow is king and in the early days everything takes longer than you typically planned.
“You’ve got to be prepared to change your plan.”
Houlihan said it is important when setting up to be across every part of the business to fully understand it.
Ultimately though, he said if it is something you want to do it is something you should go for.
He added: “It is an exciting time within the sector, it is evolving constantly.”
If you own your own advice firm and would like to feature in the Coffee Corner interview series, get in touch at tara.o’connor@ft.com
