Each year, many companies and individuals pay far more tax than they need to. We provide a range of tax services so you can avoid being one of them.
Our tax specialists make it their business to keep on top of tax legislation so you can be confident that your tax affairs are in order.
Tax avoidance is a key area of focus for HMRC. We will ensure that your business and personal finances are compliant, accurate and up to date – so you can be sure to avoid unnecessary penalties.
How you choose to structure your personal and business affairs can significantly affect how much tax you pay. We’ll develop an individual tax planning strategy to ensure you pay the least amount of tax. Find out more about our Tax Planning services here.
You must pay Corporation Tax on any profits you make from trading as a limited company or foreign company with a UK office. Clubs, co-operatives and community groups also have to pay Corporation tax.
You don’t get a bill for Corporation Tax so it’s up to you to make sure your business pays the right amount at the right time.
We can assist you with registering for Corporation Tax if you are a new business startup, keeping accurate financial records, calculating the amount of tax due and filing your Company Tax Returns.
Individuals who receive an income from employment or self-employment have to pay Income Tax on the money they earn above a base limit (the personal allowance). Income tax must also be paid on employee benefits and on income from a pension, renting out property, or a trust.
Making use of your allowances and appropriate tax reliefs can make a big difference to your tax bill. We will review how much tax you are paying and check you’re making the most of allowances and reliefs.
If you need assistance with completing and filing your tax return, please get in touch.
Capital Gains Tax (CGT)
If you sell a high value item (or asset) that has increased in value, you may have to pay Capital Gains Tax (CGT) on the profit you make.
There are, of course, lots of rules about what is and what items are classed as ‘chargeable assets’ – and therefore liable to Capital Gains Tax – and what items are exempt. Depending on the assets, you may also be able to claim a relief.
We’ll advise on whether CGT is due, the available reliefs and how much tax you’ll need to pay.
Inheritance tax (IHT)
Inheritance Tax is a tax on your estate (money, property and possessions) when you die. If your estate is valued below the Inheritance Tax threshold, it is not liable for the tax. Similarly, if you leave your estate to your spouse, to charity or to a community sports club, Inheritance Tax will not be charged.
We’re sure you’d rather not leave it all to the tax man, so we’ll help you plan ahead to minimise Inheritance Tax in the future.
If you do business internationally or are planning to live outside the UK we can help with non-UK tax matters too.
Alternative tax schemes offer different levels of risk. If you want to explore tax schemes as a way to reduce your tax bill, we can help you find options you’re comfortable with.
HMRC tax investigations
In the event of an investigation by HMRC, the involvement of a specialist at the right time can be invaluable. Learn more about our Tax Investigations services here.