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.
Under self-assessment, the responsibility for submitting returns and correctly calculating and paying corporation tax falls on business owners. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We can also calculate your company's tax liability and assist with the calculation of any quarterly instalment payments.
The increased reporting obligations and investigation policies on the part of the tax authorities, together with the harsher penalty regime for non-compliance can result in your time and resources being taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance.
Effective corporate tax planning can also result in the improved profitability of your business.
Personal Tax (including sole-traders and partnerships)
We are specialists in income tax, capital gains tax and inheritance tax.
Self-Assessment Income Tax
We have the expertise and software to take the headache out of the form filling and compliance aspect of self-assessment.
We offer a complete compliance service including the preparation and submission of Returns, we also calculate income tax liabilities and advise you exactly when to pay.
Personal Tax Planning
Greater emphasis is being put on taxpayers' responsibilities and everyone who is subject to taxation would benefit from professional advice and support to optimise their tax position and ensure they meet compliance requirements.
Our tax team can provide you with year-round practical advice on all aspects of personal taxation and available planning opportunities.
Estate Planning and Inheritance Tax
Few of us like to think about dying. However, effective inheritance tax planning should be undertaken at the earliest opportunity. This means making the necessary preparations now.
Achieving the right balance between adequate provision for your beneficiaries and tax mitigation requires considerable skill and foresight – along with a detailed knowledge of current tax legislation.
We provide a discreet and comprehensive 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 experience in dealing with trusts; a relatively easy and tax efficient way to set aside assets for future beneficiaries. We can advise on the most appropriate type of trust to suit you, 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 HM Revenue & Customs mean VAT compliance can be a difficult administrative process. We can help to ensure you comply with 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 HM Revenue & Customs and
- negotiating with HM Revenue & Customs in disputes and representing you at VAT tribunals if necessary.
HM Revenue & Customs Investigations
Being the subject of a tax investigation by HM Revenue & Customs can be a stressful and worrying experience. With self-assessment, HMRC can now review cases on a 'sample basis'. Consequently, tax investigations have become more frequent.
We have a wealth of experience in dealing with investigations, whether they are VAT, Income Tax or Corporation Tax enquiries, aspect enquiries, more detailed enquiries or employer-related investigations into payroll compliance.
If you are about to be the subject of an investigation, we can provide expert help and support.
Tax Enquiry Fee Protection Insurance
With the increased risk of investigation, it is worth considering an annual insurance policy to protect you and your business from the unexpected associated professional 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. Under our insurance scheme, the cost of our fees can be met in full by the insurance company.
Require more information?
If you would like more information or would like to speak to us direct then call us on 01475 722233. Or if you would prefer, ask us a question online.