Tax
As the HM Revenue & Customs saying goes: "Tax Doesn't Have To Be Taxing" - while this may be true it is a very complex area, with several different taxes affecting individuals and businesses. With careful planning and the correct advice, we can eliminate the annual compliance headache and ensure that you never have to pay more than your fair share of tax. Whichever tax you are concerned about, get in touch with us to see how we can help reduce your stress levels and tax liability.
Personal Tax and Self Assessment
Corporation Tax
Capital Gains Tax
Inheritance Tax
HMRC Tax Investigations and Enquiries
Whether you are a Sole Trader, partnership, landlord or an individual with high earnings or investment income, it is likely the annual Tax Return is something you dread each year. With the tax legislation constantly changing it is hard for business owners and individuals to keep on top of the changes and ensure you complete your Tax Return accurately, while claiming all available allowances and expenditure to ensure that your tax liability isn't any higher than it needs to be. Let us take this stressful annual task off your hands - get in touch to discuss your specific needs.
If you are selling or gifting an asset such as your business, property, shares or other chargeable assets, it is vital that you plan for the Capital Gains Tax implication in advance. There are many reliefs available to either reduce, defer or eliminate your liability to Capital Gains Tax so please get in touch before any transactions take place to plan the most appropriate action for your circumstances. Many individuals are not aware that a gift of property or similar can be subject to Capital Gains Tax and discover the problem too late - while we can't turn back the clock, we can do all we can to calculate your Capital Gains Tax liability and advise you on any reliefs available.
As part of the comprehensive service we offer Limited Companies, we will calculate your Corporation Tax liability, complete your return and ensure it is filed with HMRC on time each year. We will, of course, ensure that all allowable expenditure has been claimed to minimise your liability. As with all our services, we take a proactive approach and will advise you of any changes in the legislation affecting your company, as well as utilising your Annual Investment Allowance and Capital Allowances against your tax liability where possible. It goes without saying that we will keep you updated of when your Corporation Tax liability is payable and deal with all correspondence with HMRC on your behalf.
While it can be a morbid subject planning for Inheritance Tax, it is important that those potentially affected by it plan effectively to secure their family's future, and protect assets from the dreaded 'Death Tax'. Effective planning can ensure that your assets don't have to be sold by your family to pay a tax bill. We can advise on gifts, trusts or other solutions which ensure that your hard earned estate pass to your loved ones as intended.
Whether you are an existing client or not, we can help you handle HMRC tax enquiries when HMRC ask for further information about a particular tax or your Tax Return. A tax enquiry can be started at random, or because HMRC are checking a specific aspect of your business and dealing with 'the tax man' can be intimidating and time consuming. We are experienced in handling tax enquiries on behalf of clients, dealing with all the communication, meeting with HMRC officers where required, keeping you informed and ensuring that we use our knowledge and experience to achieve the quickest and best possible conclusion to the enquiry. If you have received a dreaded notice of check into tax return, get in touch without delay to discuss the issue and plan a swift and stress free conclusion.
VAT is a more complicated area of tax than simply adding up your invoices and receipts every quarter and paying the difference to HMRC. There are different schemes to consider to either aid cashflow or reduce the admin burden each quarter, such as opting for cash accounting, or evaluating whether the Flat Rate Scheme or an industry specific VAT scheme could be beneficial.
VAT on certain land and property transactions or industries can also be very complex, so it is important to ensure that you seek advice in advance in these situations. We have experience of dealing with these issues to ensure you are not caught out by the rules.
We are happy to advise you and point you in the right direction to complete your own VAT Returns, or we can handle your VAT for you, leaving you to concentrate on your business. We will register you for VAT with HMRC if necessary, advise you of the relevant deadlines, complete your VAT Returns from your records, advise you of your repayment or liability and file your return on time.