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Tax

We’ll help you to understand the tax implications of your actions, so that you can plan ahead in the most tax-efficient way.

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Taxation doesn’t need to be taxing

As general practitioners we pride ourselves on being able to offer you a wide range of tax expertise covering a broad spectrum of taxes. We want your business to be tax efficient and will strive to review all areas to ensure efficiency is maximised but not compromised by legislation.

 

Capital Gains Tax

If you sell a business asset such as property or shares, our experts can advise on tax planning and claiming a range of tax reliefs including entrepreneur’s relief, hold over relief and roll over relief. We can also communicate with HMRC on your behalf to apply for clearance where Capital Gains Tax may be applicable.

Inheritance Tax (IHT)

This is an important tax to consider when planning for the future and maximising both Business Property Relief (BPR) and Agricultural Property Relief (APR). If you are concerned about either your own potential inheritance liabilities or that of your family, we can review your assets and suggest ways that you can save tax both now and in the future.

VAT

Our experts can help with VAT on property transactions, option to tax, partial exemption and the capital goods scheme. We will also review the VAT your business has reclaimed during the year to make sure you are maximising your claims.

Stamp Duty and Land Tax

This is an area which has been subject to additional taxes during recent years including the 3 per cent surcharge on the purchase of an additional residential property and the increase of Capital Gains Tax paid on the sale of residential properties.

Stamp Duty can also apply in capital share transactions. We can advise where Stamp Duty may apply and suggest which reliefs may be available to you. This includes application to HMRC for clearance for any transactions performed now, to ensure they are not subjected to a review and charge at a later date.

Capital allowance

We can review your capital allowance claims to ensure that you have maximised reliefs available. This is especially important where large building projects are undertaken and can even provide detailed capital allowance reports on large undertakings.

Research and development (R&D)

HMRC’s R&D Tax Credit scheme rewards businesses that are innovative, growing and investing in new ideas. We can help you identify suitable initiatives which qualify and help you make a claim for research and development tax relief.

Patent box tax relief can also be explored if your business is selling its own patented products.

Trust Tax

Trusts can be an important family wealth planning tool, helping you pass on your assets to future generations. If a trust lies dormant there are strict requirements that need to be adhered to, including trust deeds, trust tax returns, 10 yearly charges and exit charges. Our team can deal with all these administrative tasks, without having to separately instruct a solicitor.

Enterprise Investment Scheme (EIS) & Seed Enterprise Investment Scheme (SEIS)

These schemes are especially popular with start-ups, tech companies and businesses in the early stages of growth as they are a great way to raise initial finance to support entrepreneurship and new business.

They come with attractive income tax relief incentives and therefore increasingly popular with investors. We can help with the application and advise you on available investor reliefs.

Enterprise Management Incentive Schemes (EMI)

Are you finding retention of good employees difficult? You may wish to consider putting in place an Employment Share Scheme. Also known as an Enterprise Management Incentive, (EMI) these share option plans help to retain and reward long serving or valuable employees.

We can help you to explore whether this scheme fits with you company and employee structure and assist you to set up and implement such a  scheme.

Non Residency and Foreign Tax

Do you have overseas employees or perhaps undertake work out of the country? If so, you may be concerned about possible tax implications. Dealing with non-domicile workers and determining residency status can be a confusing area of HR for your business. We can help determine employment status and apply tax accordingly to individual circumstances.

Perhaps you also receive income from overseas but you are not sure if it is taxable? Speak to our experts and we can advise whether any double tax treaty relief can be claimed between different countries and jurisdictions.

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