Taxation

Our core Taxation Services consist of

Inheritance Tax Planning

Payroll and PAYE Returns

Personal Tax

Property Tax

Tax Disputes

Tax Enquiries and Investigations

Tax Planning

Tax Returns and Self-Assessment

VAT Planning and Disputes

VAT Registration

VAT Returns

Inheritance Tax Planning

Tailored wealth succession planning enables a smooth transition to the next generation as well as minimising tax liabilities.

We can advise…

Individuals whose estate planning is close to the nil rate band or many times larger;

Techniques to mitigate inheritance tax on family homes, family businesses and investment portfolios;

On both lifetime transfers and wills.

However, estate planning is not solely about tax and we adopt a common sense approach, helping you to ensure your own financial needs are met and to avoid “giving away too much too soon”.

Personal Tax

Need help with your Tax Return or want to pay less tax?

Personal tax services are available both for business owners and private individuals including…

All aspects of Self Assessment;

Dealing with Tax Returns

Tax enquiries

Computation of liabilities;

Tax disputes

Correspondence with HMRC;

Inheritance tax planning

Tax Investigation Fees Protection

Trusts.

Property Tax

Are you a buy to let investor or property dealer or developer?

Property tax is a bit of a maze and we can advise you on issues such as…

Tax reduction strategies for rental income;

What is a repair and tax deductible and what is capital and not;

When to use a Limited Company to save tax;

Trading income versus Capital Gain considerations and advice;

Capital Gains rollover and holdover considerations;

Stamp Duty planning;

Tax efficient mortgage structures;

VAT considerations of property deals;

Making the most of the Principal Private Residence election;

Tax issues on the sale of part of your residence;

Second homes;

Inheritance Tax angles.

Tax Disputes

It’s an unfortunate fact of business life that from time to time there will be disagreement between the taxpayer and HMRC. Sometimes it is the facts of the case that are in question but it is also often the legislation itself that is in question. Tax isn’t always black and white and where this is the case we are happy to argue your case in the strongest possible terms.

As a taxpayer you have many rights and we will ensure they are never forgotten by HMRC.

Disputes can arise in all sorts of areas outside of full enquiries and investigations including…

Employment status disputes;

Repairs v capital disputes;

Private usage adjustments;

Capital allowances – is it plant or property?

Settlements legislation – the classic husband and wife company scenario;

IR35;

Valuations for tax purposes;

Is it a trading activity?

VAT segregation of businesses to avoid registration;

Employee benefit disputes.

We have the specialist tax knowledge to assist with a wide range of tax disputes.

Tax Enquiries and Investigations

It is an unfortunate fact of business life that you may well come under enquiry by HMRC through no fault of your own or of your accountant. HMRC now investigates businesses at random as well as for specific reasons. A full investigation is not a pleasant experience for anyone. Without expert defence it is possible to get trampled all over.

If you are selected at random, you need an accountant who knows how HMRC works and thinks and is prepared to fight your case. We make sure that the Taxman keeps to its own internal guidelines and doesn’t over step the mark. We will talk you through the enquiry process and what to expect and support you throughout.

The Penalties

There are various penalties HMRC can seek to impose following an enquiry for undeclared income. As well as having to pay the tax, you can find them seeking penalties up to an amount equal to the tax, so doubling your tax bill. Interest on the late payment of the tax is also part of the arrangement – not a pleasant experience. We can help you minimize these penalties..

Tax Planning

You are entitled to arrange your affairs to pay the absolute legal minimum amount of tax.

Whilst completion of tax returns and statutory tax obligations are important jobs, all accountants should be capable of completing them and advising you of your tax position and liabilities.

We try to do more than just this and are interested in maximising your tax planning opportunities.

We all have to pay our taxes but within the legal framework there are numerous ways of saving tax and making sure you do not pay a penny more than is absolutely necessary. We have extensive experience in this area of work and always fight as hard as we can for our clients.

We can help with tax planning in relation to…

Personal taxes;

Business taxes;

Tax efficient employee remuneration strategies;

VAT planning

Inheritance Tax strategies

Capital Gains;

Profit extraction strategies;

Exit strategies;

Employment status

IR35 advice.

Apart from extensive experience in this arena, we have invested heavily in reference materials and specialist software and have access to the Tax Legislation, Tax Cases, to the internal manuals of HMRC and to detailed commentary on all taxes, direct and indirect. This allows us to research any tax topic at all and provide many ways of helping you legally save tax.

New clients are often surprised at how much can be done to help with their tax position. We are always willing to go that extra mile to offer advice on the areas where tax can be saved. We enjoy this work!

It is important that this work is done in advance and you should contact us as soon as possible.

All of our Tax Planning makes legitimate use of the Tax Legislation and Case Law, so that you are not put at additional risk from a full HMRC Enquiry, or where there are risks, these are pointed out to you.

Tax Returns and Self Assessment

Tax Returns can be completed for…

Individuals and sole traders;

Partnerships;

Limited Companies.

The self-assessment regime is full of penalties and HMRC enquiry powers are extensive. It’s important that…

Returns are correctly completed;

They are filed on time;

All backup records are retained for the appropriate period of time.

As well as the completion of your return we can assist with…

Advice on your tax liabilities;

Negotiating with the Collector if necessary;

Identifying suitable tax planning opportunities;

Completing all the necessary tax computations;

Dealing with all correspondence from HMRC, taking the worry away from you.

VAT Planning and Disputes

Compliance with VAT is becoming ever more complex. Investigations from the Vatman can be intense – all the more important that you have an accountant who is successful in negotiations with them.

We take best advantage of the reliefs available and the interpretation of the regulations. This is an extremely important feature of the service provided as it ensures peace of mind for all our clients.

We can help you with advice on the VAT schemes suitable to your business and dealing with VAT control visits as well.

VAT Registration

For VAT registration we can assist with…

Advising if you need to or if it would be beneficial to register;

Completion of the VAT registration forms and formalities;

Advising on the best VAT schemes to use suitable to your business – some you have to notify HMRC you are using and some you don’t.

VAT Returns

Compliance with VAT is complex. Investigations by the Vatman can be intense – all the more important that your VAT returns are completed correctly.

There are three methods we can use to assist in completion of VAT returns…

Let us do your book-keeping and we complete the return from there;

Give us your books and we’ll complete the return for you;

Provide training on how to complete your return.

We complete VAT returns in good time to ensure you avoid any penalties.