As tax advisers, our objective is to work closely with you to ensure you pay the minimum tax required by law.
We will help you to understand 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
Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We will also calculate your company's tax liability and assist with the calculation of any quarterly instalment payments.
The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that 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 bottom line.
Personal Tax (including sole-traders and partnerships)
We have access to a team of tax specialists in income tax, capital gains tax and inheritance tax.
We have the expertise and software to take the headache out of the form filling and compliance aspect of Self Assessment. We can provide you with practical advice on personal tax positions 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
Today, more and more emphasis is being put on taxpayers' individual responsibilities and everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet the compliance requirements. Our specialist tax team can provide you with year-round advice on all aspects of personal taxation.
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 and getting the right balance requires considerable skill and foresight - along with a detailed knowledge of the current tax regime. We provide a discreet comprehensive estate planning service that includes:
- help with planning and reviewing a will;
- making 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 relatively easy and 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.
Ever changing regulations and the growing demands of HMRC mean VAT compliance can be a difficult administrative process. We can help to ensure that you comply with the regulations and that 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;
- 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 HMRC; and
- negotiating with HMRC in disputes and representing you at VAT tribunals if necessary.
Being the subject of a tax investigation by HMRC can be a stressful and worrying experience. With the onset of personal and corporate self-assessment, HMRC staff can now review cases on a 'sample basis'; consequently, tax investigations have become more frequent. We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return under the Self Assessment regime, more detailed enquiries or employer-related investigations into PAYE and P11d compliance. If you are about to be 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 an 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.
The taxman is busier than ever – so it pays to protect your business
There has been a lot of press coverage about HMRC’s determination to increase the tax yield from taxpayers and the fact that disputes with HMRC can quickly spiral into time consuming and costly affairs. What you may not be aware of is that even if you are found to owe no tax at all – you will still have to pay professional fees incurred in handling your case, which in some cases can be substantial.
How we can help
We have taken out a comprehensive annual insurance policy to protect all of our clients, both personally and their businesses, to cover the professional fees incurred in handling HMRC interventions, reviews, enquiries or disputes. This service allows us to dedicate the right level of representation without you having to worry about spiralling expenses. So whether you run a business or just have a modest personal income, by getting us involved at the start of any investigation you are far more likely to escape paying extra tax or penalties. Plus you have the reassurance that we will work directly with you to resolve the situation.
Require more information?
If you would like more information or would like to speak to us direct then call us on 07929 790672. Or if you would prefer, ask us a question online.