Personal tax planning
With the tax regime becoming more complex and more emphasis being put on
taxpayers' individual responsibilities, everyone who is subject to taxation
needs professional advice and support if they are to optimise their tax
position and ensure they meet all the compliance requirements.
We are tax specialists. We can provide you with year round tax advice on:
Every pound of income tax you save means more income at your disposal,
every well planned disposal of assets means minimal loss of capital gains,
and every inheritance tax saving means more benefit for your
- Income tax
- Capital Gains tax
- Inheritance tax
- Trusts and estates
- Non-domiciliary tax issues
The term 'self assessment' is proving to be one of the great misnomers of all
time. Many taxpayers struggle to understand the complex tax returns and
complete them correctly. In the first year of the regime alone, 775,000
taxpayers received £100 penalties for failing to submit their
returns on time, and some 400,000 incurred further penalties because their
returns were still outstanding six months later!
The constant stream of changes to tax legislation means not only that the
returns are becoming even more difficult to understand but also that
taxpayers risk incurring more penalties through failing to complete their
returns on time or correctly.
We can save you a lot of time, worry, and money by handling your self
assessment for you. We will do all the necessary computations, complete your
return, and even offer advice on how you can minimise your tax
We can act as your agent, dealing directly with the HM Revenue and Customs on
your behalf and, should you be selected for a self assessment enquiry, act
for you at any meetings.
To find out more please contact us.
Trusts & executorships
Trusts are relatively easy and very tax efficient way to set aside assets for
future beneficiaries and are capable of reducing the impact of inheritance
tax. We can advise on the most suitable type of trust for your purposes, set
up trusts, and provide a full range of accounting services for trusts. We can
also advise you on the preparation of your will.
Where appropriate, we can act as trustees or executors.
Estate planning / IHT
Few of us like to think about dying, but equally few of us could live with
the thought that we have not made adequate provision for family and friends
who survive us.
The legislation that governs passing on your estate to your chosen
beneficiaries requires you to plan well in advance. Since none of us knows
when we shall die, this means making the necessary provisions now.
We provide a discreet estate planning service that includes:
We strongly advise you to begin your estate planning right away by
contacting us for a preliminary review.
- Help with drawing up and reviewing your will
- Making full use of exemptions and lower tax rates on lifetime
- Optimising lifetime transfers between spouses
- Transferring agricultural or business property
- Transferring assets into trust
- Arranging adequate life assurance to cover potential inheritance tax
Everyone hopes to maintain the same standard of living in retirement as they
presently enjoy while working, but to achieve this requires considerable
forward planning. Here are some important questions you need to ask
If you are in business, the first thing you need to consider is your exit
strategy. Will you withdraw from the business, leaving it for the next
generation, or will you hope to sell the business? If you intend to hand the
business over, do you have a workable succession plan? If you intend to sell,
how will you value the business, find a suitable buyer, etc.? Are you aware
of all the tax implications of the timing of disposals?
Have you made adequate pension provision, and do you have the right type of
pension? If you are a business owner or director, are you aware of all the
pension possibilities? Are you making full use of all your allowances?
Savings and investments
Do you have the right balance between savings and investments, and between
high and low risk exposures?
Life assurance and long-term care
Do you have adequate life assurance, and have you made provision for
long-term care and medical insurance for you and your spouse in your later
We can help you answer all these questions and recommend solutions tailored
to your particular needs.
To find out more please contact us.
Corporate tax planning
Corporation tax represents a substantial part of your trading costs.
Moreover, the increased reporting obligations, robust investigation
policies on the part of the tax authorities, and harsher penalties for
non-compliance mean that an undue amount of your time and resources can be
taken up collecting revenue for the Government.
We offer a range of services to help you minimise your corporate tax
exposure and relieve you of the administrative burden of complying with tax
legislation. These include:
Efficient corporate tax planning can result in potentially significant
improvements in your bottom line.
- Determining the most tax effective structure for your business
- Taking full advantage of tax opportunities and reliefs
- Achieving the optimum capital or revenue tax treatment
- Reducing tax on disposals and maximising relief on acquisitions
- Making the most of tax opportunities specific to your industry
- Meeting the rigorous demands of compliance including corporation tax
- Acting on your behalf in discussions with the tax authorities
Are you concerned about Tax Investigations? Did you know that:
- H.M. Revenue and Customs investigate taxpayers at RANDOM?
- H.M. Revenue and Customs do not give a reason for an
- the average length of an in depth accounts investigation is 18
- our fees for dealing with the investigation could exceed
So Who is at
Every sole trader, partnership and limited company is at risk of tax
investigation under Self Assessment.
All large employers are likely to have a PAYE or NIC audit visit every 5
years which may lead to an investigation into expenses payments, P11D
returns and the status of subcontractors.
All VAT registered businesses - 46% of control visits bring about
You are at risk!
Let us minimise the risk of you having additional duties to pay by
providing best representation at an affordable cost. We also offer Fee
Protection Insurance to our clients which provides cover against additional
fees which might be incurred in dealing with an enquiry. Contact us for
Value added tax is one of the most complex and onerous tax regimes imposed
on business - so complex that many businesses inadvertently overpay or
The ever widening scope of VAT, the constant stream of detailed changes to
the regulations, and the ever growing demands of HM Revenue & Customs
call for a trained professional eye to ensure that you do not fall foul of
the regulations and do not pay the Exchequer more than you need to!
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
- Planning to minimise future problems with HM Revenue &
- Negotiating with HM Revenue & Customs in disputes and
representing you at VAT tribunals
Please contact us for more information on this