As tax specialists and your tax agent we will work closely with you to ensure you pay the minimum tax required by law.
We will advise you of the tax implications of your actions, in order that you can plan ahead and conduct your affairs in a tax efficient way.
Corporation tax services
As your tax advisor we will ensure your legal responsibility for correctly calculating the corporation tax liability, which falls on business owners under Corporation Tax Self-Assessment (CTSA), is calculated correctly and in a timely and efficient manner.
HM Revenue & Customs have increased the reporting obligations and, coupled with the new investigation policies and harsher penalties for non-compliance, this means your time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your cash flow.
Personal Tax (including sole-traders and partnerships)
We are specialists in income tax, capital gains tax and inheritance tax.
We can ease the problems associated with online filing deadlines. Over recent years HMRC have increased the penalties for failing to file a return on time and for errors. We have the technology to ensure you are not exposed to penalties for being late with filing and software to take the headache out of the form filling and compliance aspect of Self Assessment. In addition we can provide you with good practical advice on your personal tax situation and the planning opportunities available to you. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.
Personal tax planning
Everyone who is subject to taxation needs professional advice if they are to maximize their tax position. Our specialist tax team can provide you with year-round advice on all aspects of personal tax planning.
Few of us like to think about dying; however the relevant legislation requires us to plan well in advance. This means making the necessary provisions now. There are many tax opportunities available and the earlier arrangements are made, the greater the chance of taking full advantage of our complicated tax system.
It is important when planning to transfer an estate that adequate provision is made, getting the right balance between the present and the future. This requires considerable skill and foresight along with a detailed knowledge of the current tax regime. We provide a full confidential and comprehensive estate planning service that includes:
- planning and reviewing a will;
- ensuring full use of exemptions and lower tax rates on lifetime transfers;
- optimising lifetime transfers between family members;
- transferring agricultural or business property;
- transferring assets into trust; and
- arranging adequate life assurance to cover potential inheritance tax liabilities.
We also have expertise in dealing with trusts; a very tax efficient way to set aside assets for future beneficiaries outside the inheritance tax net. We can advise on the most suitable type of trust to fulfil your wishes, assist in setting up the trust and provide the full range of accounting services required for trust management.
Capital Gains Tax
We provide tax planning services to ensure capital gains tax liabilities are minimised and avoided where possible through the use of current tax efficient reliefs and exemptions, including the gift relief, rollover relief, retirement relief, entrepreneurs’ relief and the Enterprise Investment Scheme. We advise regularly in relation to retirement issues and related capital gains tax issues. We also advise on the capital gains tax implications of incorporating a business, disincorporation issues, sale of companies and pre-sale tax planning.
VAT regulations are often complicated and lack any real logic and, with ever changing regulations and the growing demands of HM Revenue & Customs, mean VAT compliance can be a burdensome administrative process. We can help to ensure that you comply with the regulations and that under and overpayments are not made. To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes:
- assistance with VAT registration and requirement to register;
- advice on VAT planning and administration;
- use of the most appropriate scheme;
- VAT control and reconciliation;
- help with completing VAT returns;
- planning to minimise future problems with HM Revenue & Customs; and
- negotiating with HM Revenue & Customs in disputes and representing you at VAT tribunals.
HMRC Investigations and Enquiries
Being the subject of a tax investigation or enquiry by HMRC can be a stressful and worrying experience. We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return, more detailed enquiries into a company’s affairs or employer-related investigations into PAYE and P11d compliance. If you are the subject of an investigation, we can provide expert help and support.
With the increased risk of such investigations it may be worth considering taking out our annual insurance policy to protect you and your business from unexpected costs; an investigation will undoubtedly result in additional accountancy work being undertaken. The amount of work will depend upon the complexity of the case but the cost could be substantial.
Require more information?
If you would like more information or would like to speak to us direct then call us on 028 3025 1025 or 028 9051 7058. Or if you would prefer, ask us a question online.