Olaoluwa Lawal- Finance Leader

I WON'T PAY MORE THAN 30% OF THAT TAX, TRUST ME..............

Most businesses overpay tax.

Not because they want to…

But because they don’t review what they’re given.

Over the years,

I’ve consistently resolved tax exposures to 30% or less of the initial liability.

Not by magic.

Not by cutting corners.

But by understanding the system and how it works.

Here’s what I do differently:

I don’t accept tax claims at face value.

I break them down.

Line by line.

I review:

The transactions behind the assessment

Whether they actually exist in the books

What has already been paid

The rates and assumptions applied

This process continues............. but I will hang it here

At every stage,

there’s usually 5–15% that shouldn’t be there.

By the time the review is complete,

the real liability becomes clear

and it’s often far lower than expected.

This is not about avoiding tax.

It’s about paying what is right, not what is assumed.

We’ll stop here for today.

How’s the season going for your business?

Have you reviewed your tax position recently?

Have you had NRS/IRS tax audit recently?

Good morning.

Send a message to learn more

Good morning,

It’s been a while here 👀

How is the new tax regime treating you so far?

Are you keeping up with the new provisions… or still trying to make sense of it?

And most importantly — have you filed your Personal Income Tax returns?

If you’re unsure where you stand, now is a good time to get it right, We got extension on the deadline.

How can we support you?

I will support 5people for free with the filing. (Picking at random)

GOOD NEWS FOR ICAN STUDENTS

This is for ICAN students taking may diet examination.

Bright Mind Professionals(BMP) will be organising FREE revision classes In the month of April for all courses in foundation, skills and professional.

BMP is an excellent delivery tuition centre with well qualified and seasoned lecturers located in the heart of Lagos (Ketu 7 up).

your location is not a barrier as you can be available physically or virtually for your convenience.

kindly reached out to indicate your interest. we need info of interested students for proper planning ahead of April.

BMP! Your success is our concern

Olaoluwa Lawal
Your Favourite Career Coach

RENT, BUILDING AND LAND not subject of WHT

The government has confirmed a new law in the NTA 2925 that exempts land, buildings, and rent from VAT, aiming to reduce housing costs and support investment.

Key points include:
- Buyers of land or completed buildings will no longer pay VAT.
- Both residential and commercial rent will be free from VAT.

This change is designed to lower property transaction costs and ease the financial burden on tenants and investors.

The question will then be ; if payment for rent, purchase of land and building is subject to WHT.

Subject: NRS Monthly Filing

Dear Professionals,

Hope this mail finds you well.

Deadline Reminder: WHT, VAT & Other Monthly Taxes

Just a quick reminder that the deadline for filing and payment of all monthly taxes due to the NRS is Friday, 20th.

Ensure your books are properly updated and all necessary computations concluded to avoid penalties and ensure full compliance.

The year is still young, this is the best time to put things in order and stay on track.

Stay compliant.
Stay guided.

Regards

Olaoluwa Lawal
Tax Professional

Subject: Expenses are Investments not losses

OPEN LETTER TO SMALL BUSINESS OWNERS

The Early Years Are Not Wasted Years.
Your expenses in the first few years sometimes up to five years or even 10 years depending on your capital investment are not a sign of failure or loss making. Those losses should be expected.

They are the cost of building structure, credibility, and a business that can last.

You Are Not Just Spending, You Are Building

What feels like heavy spending is actually investment in:

• Systems
• Customer trust
• Brand presence
• Staff capability
• Operational processes

These are the real foundations of sustainability.

Stability Comes Before Profit

Growth usually comes after stability.

You are building capacity now so revenue can scale properly later.

Strong businesses are built deliberately not rushed into profitability.

This Stage Requires Financial Discipline
Track your costs.
Separate investment from unnecessary spending.

Put controls in place early.

Stay financially aware, not financially afraid.

Expect the early stage losses

Measure Progress Differently
In the early years, don’t measure success only by profit.

Measure it by the strength of the systems you are putting in place because systems create sustainable profit.

Build right. Control well. Grow steadily.

Olaouwa lawal
your favourite Business Partner

PAYE Filing Deadline: 7th February

This is a gentle but important reminder.
Returns to be filed include:

Schedule of PAYE paid
Schedule of WHT paid
Schedule of PAYE projection for the current year

Beyond tax payment, this is a year of compliance.
Don’t be caught unaware.

What may cost you nothing today can cost you a fortune tomorrow in penalties, interest, and avoidable stress.

Many businesses assume they are “fine” until enforcement begins and by then,
options are limited.

A stitch in time truly saves nine.

Now is the time to act.

Stay compliant. Stay protected.

Layinka Lawal & Co. Services
We are at your service.

Hello Professional Colleagues,

Good morning ☀️

How are we all coping with the recent tax challenges in our professional environment?

With the ongoing changes in tax regulations, many of us are adjusting, unlearning, and relearning. The transition phase is rarely smooth, and questions are inevitable.

Are you experiencing difficulties applying any of the new provisions?

Have you encountered grey areas that require deeper interpretation?

This is the stage where rubbing of minds becomes necessary for better clarity and improved outcomes.

If you’ve gained an insight through self-study, practice, or recent engagements, kindly share with the community.

Insightful sharing strengthens us all.
Knowledge shared is impact multiplied.

Let’s keep the conversation open.
Please share your challenges, observations, or learnings.

An Open Letter to Small Business Owners:

Why You Need an Accountant From Day One

Many small business owners believe there’s no need for an accountant at the early stage of business.

And transaction-wise, you may be right.
But compliance-wise, you are unknowingly building a time bomb, one that would explode someday.

From the moment a business is registered and before activities commence, statutory filing becomes mandatory, even when:

there are no transactions
no profit is made
and no tax is payable

What many business owners don’t realise is this:

“No tax to pay” does not mean “no filing required.”

An accountant at this stage may not be managing complex transactions, but would ensure the required filings are done. Failure to do so leads to late return penalties, which quietly accumulate year after year.

There is a recent case I am aware of where a business has been running for over eight years.
There was no real basis for tax payment during the period, yet statutory filings were never done.
As I speak, the accumulated Late Return Penalties (LRP) have risen to over ₦30 million.

All of this could have been avoided by engaging a part-time accountant from the early stage.
This is why we strongly encourage business starters and small business owners to engage an accountant or even an independent or part-time accountant right from the planning stage.

Not having one is being penny-wise and pound-f00lish.

Maybe I should stop here.
I never too well like that 😅

Iree o ✌🏽

Retrospective Targets vs Prospective Pay — Does It Add Up?

When a staff member joins a new role, the expectation should be forward-looking:

Employment is prospective
Pay is prospective

Performance targets should ideally match the same timeline

But in many workplaces, reality tells a different story.

A new hire resumes, and suddenly:

There’s 3 months of backlog to clear
While also handling new daily operational tasks with no extra bandwidth or support

Yet backlog clearance becomes the key confirmation target for the role.

My honest issue with this approach is simple:

If my employment (and pay) starts today, why should my primary confirmation target be yesterday’s work?

Working on backlogs isn’t the problem, business needs continuity, we get it.

But making it a yardstick for confirmation, without a special arrangement, feels off.

Because:
Backlogs consume time that wasn’t factored into your job ramp-up

You’re effectively doing retrospective work with prospective pay

That mismatch can lead to burnout, unrealistic expectations, and unfair assessments.

A better model could be:
Backlogs handled under a separate agreement, or
Additional pay, time, or support allocated for clearing them, or
Confirmation targets based on future deliverables plus growth impact, not inherited workload

“Everyone does it” isn’t a justification. If it doesn’t balance, it doesn’t.

Maybe there’s a valid reason it’s done this way? Maybe it’s just a broken norm we all accepted?

What do I know sef 😂

But norms evolve when someone asks the right questions.
Do you think retrospective targets for confirmation make sense when pay is prospective? Or is it time to rethink this?

Una good morning, let’s talk

FREE PAYE Template

Good morning and happy resumption!
We previously shared a PAYE template as community support, reaching over 50 professionals.
We’re glad it helped.

Quick update:

the template is no longer free.
It is now available for a 10k fee, with a complimentary support session included for anyone who needs it.

Our inbox don full, so we needed to restate this clearly, because you nor fit tell mgt say you “no fit design template” 😄 see finish go enter.

Thanks for always supporting us.
Ire oh!

Olaoluwa Lawal
Tax Expert