Taxation planning and compliance – business and personal
As Chartered Tax Advisers, our objective is to work closely with you to ensure you pay the minimum tax required by law. 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.
It is likely that over 90% of any tax planning opportunities are lost once a transaction has been undertaken, so it is important to advise us of any proposed actions, requiring our advice, well in advance of the event.
Business tax services:
Under 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 due.
The increased reporting obligations and investigation policies on the part of the tax authorities, coupled with harsher penalties for non-compliance, mean that your valuable 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 the profits available to the business owners.
Ever-changing regulations and the growing demands of HM Revenue & Customs, mean that VAT compliance can be a difficult administrative process. We can help to ensure that you comply with the regulations and that the correct amount of VAT is paid. 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 VAT scheme
- assistance with the completion of VAT Returns
- planning to minimise future problems with HM Revenue & Customs
- negotiating with HM Revenue & Customs in disputes and representing you during VAT inspections, if necessary.
Self-Assessment applies to partnerships in that all partnerships must complete Partnership Returns (TMA 1970 s 12AA). There is, however, no assessment on the partnership itself and each partner brings their share of profits into their own personal Self-Assessment Return.
The responsibility for completing the Return is usually that of a representative partner to whom it is sent.
We can assist with all aspects of Partnership Tax compliance and we can prepare the Return on behalf of the representative partner.
For further information on our business tax services and to arrange an initial free of charge meeting, please contact us
Personal tax services (including sole-traders and partners):
We are specialists in income tax and capital gains tax matters and with the completion of personal Self-Assessment Tax Returns.
Personal Self-Assessment Tax Returns
We have the expertise and capabilities to take the stress out of the form filling and compliance aspect of Self-Assessment. We can provide you with practical advice on personal tax and planning opportunities available to you, for both income and capital gains. Over recent years, HM Revenue & Customs has increased the penalties for failing to file a Return on time and for errors. We can complete all Tax Returns on your behalf, calculate any resulting tax liabilities and advise you on exactly when to make payments and how much to pay.
Personal tax planning
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.
We also have access to independent tax specialists who can advise on more complex situations, should this be necessary.
For further information on our personal tax services and to arrange an initial free of charge meeting, please contact us.