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Tax

Whoever said "tax doesn't have to be taxing" probably wasn't a business person and almost certainly wasn't an accountant!

Today the UK tax system is complex, onerous and the legislation is voluminous. As a result there are many traps for the unwary.

Our experienced tax team can guide you through the tax minefield. We work with our clients to make sure their tax returns are prepared well before the deadlines. We help them to organise their financial affairs in a way which makes sure their tax affairs are legally intelligent and organised as beneficially as they can be.

We can help with all taxes covering:


Personal Tax

Nobody wants to pay more tax than they have to, but the complexity of the tax laws mean that often people end up paying more than they need. Our bespoke approach to dealing with tax for individuals means that we can ensure that your tax bill is as low as it can be and all returns and elections are filed on time.

We can help with:

  • Income tax
    • Self-assessment
    • Review to ensure full allowances claimed
  • Capital gains tax
    • Entrepreneur's relief
    • Private residence relief
    • Planning transactions to avoid tax bills being higher than they need
  • Inheritance tax
    • Estate planning
    • Lifetime transfers
    • Pre owned assets
    • Relief for agricultural or business property
    • Relief for works of art
  • Property
    • Stamp duty
    • Land included in sale of residence
  • Residency
    • Residence
    • Domicile
  • Planning - ensure that you keep as much of your money as legally possible

Business Tax

The law and rules surrounding tax are changing all the time, and with our approach to managing our clients' tax affairs we can help you to ensure that your company keeps on track and is able to plan for its corporation tax bills.

  • Corporation tax
    • Compliance - making sure that returns are filed time so no penalties are charged
    • Planning - look ahead to make sure the tax bill is as small as it can be
    • Take advantage of reliefs
    • IR35
    • Personal service companies
  • Incorporation of a sole trade or partnership
    • When to
    • What is transferred?
    • Structure within company
  • Construction Industry Scheme (CIS)
    • Registration
    • Verification
    • Monthly returns
  • Succession
    • Sell or pass on?
    • Structure
    • Earn out
    • Deferred consideration

VAT

As well as corporation tax and income tax businesses are subject to VAT. When VAT was introduced in 1973 the then Chancellor said that VAT was basically a simple tax. That may have been true then but now it is one of the most onerous and complex tax regimes imposed on businesses. The regulations change frequently and as a result many businesses end up paying too much or too little. Our clients are able to rely on our expertise and experience to ensure that they pay the right amount and do not fall foul of any regulations.

We deal with:

  • Registration
  • Returns
  • Place of supply
  • International trade
  • Partial exemption

Employment

Businesses are under an obligation to operate a PAYE scheme where they employ people. This is an area where the burden is placed on the business with financial penalties if they get it wrong. Our payroll team can help ensure that you meet your obligations as well as assisting in drawing up remuneration packages for your employees.

  • Payroll
    • Processing
    • Starters and leavers
    • Remuneration packages
    • National insurance
    • BACS payment preparation
    • Advising monthly liability
    • Year end returns
    • Real Time Information (RTI)
      • getting ready
      • filing

  • Remuneration packages
    • Share options
    • Enterprise Management Incentive
    • Benefits
  • National insurance

Not for profit

Not every organisation is trading for profit, notably charities or sports and social clubs. It is important that the tax affairs are properly organised so that there is no tax chargeable. With VAT charities can find themselves in a situation where they cannot reclaim all of the tax which they suffer on goods that they buy (partial exemption). Our knowledge and experience of this area of tax helps our clients to ensure that they are operating within the law.

  • Trading
  • VAT
  • Mutual trading

HMRC Enquiries

With greater numbers of HM Revenue and Customs staff being allocated to enquiries in an effort to raise additional taxes, the chances of being selected for an enquiry are increased. When the letter arrives you will want to know that there is reliable advice at hand to support you and fight your corner. We have experience of a variety of enquiries from the simpler aspect enquiry to the full "books and records" enquiries. We also have experience of dealing with the Special Compliance Office civil enquiries.