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
In accordance with the 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)
Tax regulations have become even more complicated therefore we seek to provide clear and precise proactive tax and tax rebate advice to our clients. We are specialists in income tax, capital gains tax and inheritance tax.
Self assessment can be intimidating and time consuming. 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, while ensuring no penalties are incurred. We can also analyse your tax return to identify if any tax savings can be made.
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 will ensure that all of the available inheritance tax reliefs and allowances are used to optimise your position. This is done by providing 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
- 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.
Cross Border Taxes
An increasing proportion of business is now being carried out in Republic of Ireland. There are escalating demands from both UK and Republic of Ireland jurisdictions as authorities on both sides of the border seek to collect taxes on cross border transactions. We can offer specialist advice on the challenging tax issues that are faced in these situations.
PAYE & NIC
Meeting your obligations as an employer can be daunting. We can offer a confidential service designed to meet your payroll needs while keeping you up to date with changes in legislation. We can provide weekly or monthly payroll services, dealing with PAYE, National Insurance contributions, Statutory Sick Pay, Student Loans and Working Family Credits. We also undertake the Real Time Information (RTI) filing now required by HMRC.
Construction Industry Scheme
Numerous changes in the legal and reporting requirements under the Construction Industry Scheme have led to it becoming more difficult to operate under the scheme. We can offer help in registering on the scheme and give advice to contractors explaining the procedures and rules in taking on subcontractors. As penalties can be incurred if monthly returns are submitted late or inaccurately to HMRC we can assist in their completion and online filing.
Ever changing regulations and the growing demands of HMRC mean VAT compliance can be a difficult administrative process. VAT is one of the most complex taxes imposed on businesses and can often be unintentionally overpaid or underpaid. We can help to ensure that you comply with the regulations and that these errors are not made. To help you manage this complicated 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 and online filing
- planning to minimise future problems with HMRC
- 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.
Require more information?
If you would like more information or would like to speak to us direct then call us on 028 4173 9340. Or if you would prefer, ask us a question online.