We have a deep understanding of tax and how to enable maximum tax efficiency for our clients. We offer a complete service to deal with ongoing and annual corporate tax matters.
- Preparation of annual corporation tax returns.
- Related correspondence with the Inland Revenue.
- As standard, during an audit, we review your company’s taxation affairs to ensure no tax planning opportunities are missed.
- Advice on company matters such as directors’ remuneration, dividend payments and group structure arrangements
Anyone required to complete a Tax Return will benefit from our comprehensive personal tax service. If we act for your business, it is a natural complement to our corporate tax service. We can assist you in filing your tax return efficiently to ensure you pay the minimum amount of tax.
- Preparation of self assessment tax returns for individuals including company directors, sole traders, high net worth individuals and partnerships
- Related correspondence with the Inland Revenue
- Advising directors on the most tax efficient form of remuneration
- Annual review of your taxation affairs to ensure that no tax planning opportunity is missed and that all available relief’s are claimed.
- Checking and adjusting PAYE notices of coding
Capital Gains Tax
Due to a long term increase in UK property prices and rise in property investment, an increasing proportion of the population are now caught by the Capital Gains Tax net. We have the technical expertise and skills to advise our clients on Capital Gains Tax planning – often changes can save tens of thousands of pounds in tax payable. In particular the timing of disposals can be crucial and often changes in government policy may require changes that you are not aware of.
We can also advise on the more technical aspects of CGT such as holdover, rollover and other specific elections. Early advice and tax planning from us, before a transaction takes place, can save a great deal of tax.
Inheritance Tax Planning
All moderately wealthy individuals and couples should consider taking a review of their estate to minimise Inheritance tax. Without careful planning, a substantial liability may be left after you die, which would result in lower bequests than you hoped for.
Inheritance tax is charged at 40% on the value of the estate over the ‘nil rate’ threshold. You are able to use the first spouse’s nil rate band when the other partner dies, but this still leaves a large proportion of people at risk. With some careful planning, the tax burden can be significantly reduced. We utilise tax planning methods such as:
- Gifts using tax free allowances
- Renewal of your wills to incorporate tax efficient change
- The use of trusts
- Options with the family home, any businesses or agricultural assets
- Transfer of ownership or the sale of assets to relevant family members
Share Option Schemes
We can advise on the various options available to employers to retain and incentivise key staff. We can advise on the best scheme to suit your business and assist in set-up, maintenance and compliance of all schemes including all registration, compliance, share valuation and ongoing correspondence with HMRC. These include:
- Enterprise Management Incentive (EMI) – an approved scheme now very popular with smaller companies. It is cost effective and is a good way of creating loyalty, motivation and securing the long term future of employees
- Share Incentive Plan (SIP) – another approved scheme which requires all employees to be included , so not as selective as EMI
- Company Share Ownership Plan (CSOP) – approved and similar in nature to EMI but with different time limits, monetary limits on options and a lesser CGT advantage
- Unapproved share options – no ‘approved’ tax advantages but very flexible
VAT rules are increasingly complicated and there are substantial penalties for failing to comply. Specialist advice is crucial in very complex cases where disputes arise as to VAT liability, international VAT issues and the often complex issues surrounding VAT and property / construction. We can ensure that you and your business are compliant and also provide planning advice to minimise your exposure to VAT.
Following a VAT inspection, liabilities can arise. We have the expertise to negotiate with HM Revenue and Customs on complex VAT issues to minimise the liability demanded. We can advise on the various schemes available such as VAT flat rate scheme, cash accounting, annual accounting and retail schemes.