Last Quarter Tax Planning - Business Checklist

The last quarter of the year concentrates many of the decisions that have the greatest impact on a company's tax bill. What is done (or not done) during these weeks determines, to a large extent, how the year-end and subsequent settlement of the tax will be. Unlike other times of the year, there is still room for manoeuvre in the final tranche: you can still adjust investments, order documentation and plan the treasury to face the next payments. That is why it is convenient to face it with method, not with last-minute haste. InJAIZMEwe accompany companies and freelancers from the Canary Islands in this final stretch with a clear checklist that we review below.

Why the last quarter is key

Tax planning is not about improvising in December, but about reviewing the situation with enough time to act. At the end of the year, several factors coincide: the real image of the results is already quite reliable, relevant settlement deadlines are approaching and it is still possible to influence the tax base through legitimate investment, spending or incentive decisions. Anticipating avoids surprises in the fee to be paid and allows reasoned decisions to be made instead of reacting too late.

Review of results for the year

The first step is to have an updated photograph of the progress of the business. An up-to-date accounting allows estimating the foreseeable result of the year and, from there, assessing which decisions make sense before closing.

• Reconcile accounting with bank statements and customer and supplier balances.
• Check that all invoices issued and received are correctly recorded.
• Check depreciation, provisions and possible impairments pending accounting.
• Estimate the result of the year to anticipate the tax impact.

Forecast of payments on account and treasury

With an estimate of results on the table, it is time to anticipate the payments associated with the closing and the next settlements. Good treasury planning avoids cash stresses when maturities arrive. It is advisable to review the schedule of obligations applicable to your activity and reserve the necessary liquidity for the payments planned before theInland Revenueas well as assessing whether the amounts anticipated throughout the year are consistent with the expected result.

Investment and spending decisions before closing

The final part of the year is a good time to review the investments and expenses that the company had planned. Advancing or postponing certain operations may have a relevant effect on the year, provided that they respond to a real business need and not to an artificial operation. Some common decisions that should be analyzed are the following:

1. Renewal of equipment or software necessary for the activity.
2. Productive investments that the company had planned in the medium term.
3. Supply of stock or contracting of already planned services.
4. Team training and other properly justified deductible expenses.

Preserve documentary justification

Cualquier gasto o inversión solo será deducible si está debidamente documentado y vinculado a la actividad. Guarda facturas completas, contratos y justificantes de pago: la forma en que se documenta cada operación es tan importante como la decisión en sí.

Revisión de deducciones, incentivos y el REF

Las empresas que operan en Canarias cuentan con un marco fiscal propio, el Régimen Económico y Fiscal (REF), que incluye incentivos específicos como la Reserva para Inversiones en Canarias (RIC). El último trimestre es el momento de revisar si se cumplen los requisitos aplicables para aprovechar estos incentivos y otras deducciones generales a las que la empresa pueda tener derecho. Conviene comprobar, conforme a la normativa vigente en cada caso, que las dotaciones, inversiones y plazos asociados a estos beneficios están alineados con los planes de la empresa, para no perder ventajas a las que se tiene acceso ni asumir compromisos sin tenerlos previstos. Si quieres profundizar en este marco, puedes consultar nuestro servicio sobre el REF de Canarias.

Organización documental para el cierre

Llegar al cierre con la documentación ordenada ahorra tiempo, reduce errores y facilita cualquier revisión posterior. Antes de que termine el ejercicio, conviene poner en orden los principales soportes contables y fiscales.

• Archivar de forma ordenada facturas, contratos y justificantes del ejercicio.
• Revisar los libros registro y la conciliación de cuentas.
• Recopilar la documentación de inversiones e incentivos aplicados.
• Centralizar la información en un único lugar accesible para la asesoría.

Cierra el año con tu asesoría de confianza

Una buena planificación del último trimestre no es solo cumplir, sino tomar decisiones informadas que protejan la rentabilidad de tu empresa. En JAIZME revisamos contigo cada punto de esta checklist y adaptamos la estrategia a tu situación concreta. Descubre cómo te ayudamos desde nuestra asesoría fiscal y nuestro servicio de consultoría empresarial, y si quieres preparar el cierre con tiempo, ponte en contacto con nosotros para empezar cuanto antes.