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Tax Planning & Compliance

Tax is getting more complicated every year and there is simply more of it. There are wide ranging penalties for failing to comply with the law and even for late filing, including increasing use by HMRC of the powers contained in the Proceeds of Crime Act. It is virtually impossible to manage and expand a successful business without being fully tax compliant. Our tax services cover all types of tax returns for companies, partnerships, individuals, trusts and pension schemes. Tax return information is often taken from accounts and our accounts and tax compliance services are fully integrated.

Personal tax returns
Everyone working in the UK is either be paid under PAYE or needs a tax return or in many cases, both.

Self employed and partnerships
If you are self employed your personal tax return will include your accounting information and we offer a fully integrated service with quoted fees, agreed and fixed in advance.

Salaried on PAYE
We offer a fixed price personal tax return service including a review of your tax affairs. HMRC has admitted to many thousands of PAYE code mistakes and people are now receiving tax bills from years ago of which they were not aware. If you have received an unexpected tax bill, please get in touch.

Corporation tax returns
Corporation tax returns must be submitted within 12 months of the company year end. Where an accounting period is longer than 12 months the first deadline is 24 months from the beginning of the accounting period. It is a requirement that all tax returns are filed electronically using Extensible Business Reporting Language (XBRL) which we have had in place since before the deadline for implementation (March 2011). It is also a requirement that corporation tax is paid electronically within nine months fo the company year end (or were the accounting period is longer than nine months the first deadline is 21 months from the beginning of the account period. Whatever the requirements, we can advise you; just give us a call.

Tax enquiries and investigations
The self assessment regime means that HMRC can focus on tax returns and accounts which do not “fit” the industry sctor or show variations from past accounts. There are many was in which HMRC identify companies and individuals for tax enquiry. HMRC probably hold the largest and most up to date database of financial results by industry sector. Many enquiries just question one aspect of the accounts but this can lead to more questions. We have considerable experience of handling enquiries as well as working with some of the leading tax advisers and counsel in the UK. Whatever the requirements, we can advise you; just give us a call.

Corporate tax planning
Simple tax planning is often overlooked – from simple company shareholder inheritance tax planning to organising group structures operating in the UK and overseas. Businesses often set up second or thiird companies withhout considering the corporation tax associated company rules, or plan to reduce corporation tax without considering the persoanl tax implications. Many of our clients are now operating with branches or product sourcing overseas and there are savings to be made by establishing the right structure from the outset. Please contact us if you would like a confidential discussion without commitment.

Family tax planning, family companies and trusts
Family companies can provide a means of saving significant amounts of tax on realising capital from the business, substantially reducing the higher rate tax payable on salaries (under PAYE) and dividends. If you have shareholders simply wishing to retire and sell their shares or even complex trust arrangements protecting family members we can assist you in resolving problems and planning to reduce the tax burden. Please contact us if you would like a confidential discussion.