Individuals, privately owned business and corporates face increasingly complex taxation rules, greater scrutiny from HMRC, and a more significant obligation to ensure compliance.
As experienced tax advisors, our objective is to help our clients to keep more of their hard earned income. No one wants to pay more tax than they have to. Through careful tax planning, we work closely with our clients to help minimise their tax liability.
Self Assessment Tax Returns
Although you may be able to complete and submit the forms yourself, many people find it stressful, and are mindful that they may be missing out on claiming all their tax allowances and tax allowable expenditure. They are also wary of declaring income or capital gains incorrectly.
In addition to our expertise, we also subscribe to the right software so that we can easily undertake this for you, advising you of your total liabilities and when the tax payments need to be made. At the same time, we can provide you with timely practical advice and any planning opportunities that may be available to you.
Preparing and submitting Corporation Tax Returns (Forms CT600) correctly, is a legal responsibility that falls on the directors of a limited company however large or small that company is. If the company receives a ‘notice to complete a corporation tax return’, then the company (its directors) are required by law to file a return within the due date for filing. To ensure that you are fully compliant we can undertake this for you.
VAT (Value Added Tax)
VAT can be a difficult area to navigate due to ever changing legislation, HMRC demands and rules, including BREXIT and importing and exporting rules.
We can help you comply with this complex area, by providing a proactive and cost efficient service, which includes: -
- Advice and assistance with VAT registration, including advice regarding the various schemes.
- Advice on VAT planning and administration
- VAT control and reconciliation
- Assisting with preparing and filing of VAT returns
- Planning to minimize future potential problems with HMRC regarding VAT
- Negotiating with HMRC in the event of disputes.
Capital Gains Tax (CGT)
Capital Gains Tax refers to taxation that becomes payable on the sale or disposable of a chargeable asset. With tax rates that can vary between 10% and 28%, it is therefore prudent to seek professional tax advice and put in place realistic planning measures to minimize or/and defer, or even eliminate, any potential tax burden.
Our service includes: -
- Annual allowances
- Business Asset Disposal Relief (formally known as Entrepreneurs relief)
- Principal Private Residence (PPR)
- Advice as to when is best and how to dispose of a chargeable asset to minimize the tax burden.
- Advice on the use of existing capital losses.
- Ensure gains are maximized.
- Obtaining HMRC agreement where valuations are involved.
Inheritance Tax (IHT)
Whatever the size of your personal estate, we can provide advice and guidance on ways in which you can pass on your personal assets in the most tax efficient way. We can carry out IHT reviews for all our clients. We can assess your exposure to potential liabilities and offer options where any exposure to liability can be reduced.
Our service includes: -
- Assessing and providing advice on all matters relating to IHT
- Advise on making life gifts and transfers, whether out of income or capital.
- Liaising with your Will writer, Lawyer and Financial Advisor.
- Ensuring efficient use of the spouse exemption and transfers at the nil rate bands.
- Advise regarding available reliefs and exemptions.
- Facilitating the establishment of Trusts.