Tax planning

We will work hard to identify and ensure you benefit from tax planning opportunities.

Whilst completion of tax returns and statutory tax obligations are important jobs, all accountants should be capable of completing them and advising you of your tax position and liabilities.

We try to do more than just this and are interested in maximising your tax planning opportunities.

We all have to pay our taxes but within the legal framework there are numerous ways of saving tax and making sure you do not pay a penny more than is absolutely necessary. We have extensive experience in this area of work and always fight as hard as we can for our clients.

We can help with tax planning in relation to:

• Personal taxes.
• Business taxes.
• Tax efficient employee remuneration strategies.
• VAT planning.
• Capital Gains.
• Profit extraction strategies.
• Exit strategies.
• Employment status.
• IR35 advice.
  
  

Aside from extensive experience in this arena, we have invested heavily in reference materials and specialist software and have access to the Tax Legislation, Tax Cases, to the internal manuals of HMRC and to detailed commentary on all taxes, direct and indirect. This allows us to research any tax topic at all and provide many ways of helping you legally save tax.

New clients are often surprised at how much can be done to help with their tax position. We are always willing to go that extra mile to offer advice on the areas where tax can be saved. We enjoy this work!

It is important that this work is done in advance and you should contact us as soon as possible.

All of our Tax Planning makes legitimate use of the Tax Legislation and Case Law, so that you are not put at additional risk from a full HMRC Enquiry, or where there are risks, these are pointed out to you.

Tax Enquiries and Investigations

It is an unfortunate fact of business life that you may well come under enquiry by HMRC through no fault of your own or of your accountant. HMRC now investigates businesses at random as well as for specific reasons, such as:

• Employment status disputes.
• Repairs v capital disputes.
• Private usage adjustments.
• Capital allowances – is it plant or property?
• Settlements legislation – the classic husband and wife company scenario.
• IR35.
• Valuations for tax purposes.
• Is it a trading activity?
• VAT segregation of businesses to avoid registration.
• Employee benefit disputes.
  
  

If you are selected you need an accountant who knows how HMRC works and thinks and is prepared to fight your case. We make sure that the Taxman keeps to his own internal guidelines and doesn’t over step the mark. We will talk you through the enquiry process and what to expect and support you throughout.

The Penalties

There are various penalties HMRC can seek to impose following an enquiry for undeclared income. As well as having to pay the tax, you can find them seeking penalties up to an amount equal to the tax, so doubling your tax bill. Interest on the late payment of the tax is also part of the arrangement – not a pleasant experience. We can help you minimise these penalties.

Anti-investigation Scanning Checks

Whilst with random investigations anyone can come under enquiry, you can help to avoid the chance of an investigation into your affairs for other reasons. We know the triggers that often give rise to enquiries if not fully explained to HMRC when submitting returns to them. Every Tax Return or set of accounts we submit to the Taxman goes through an anti-investigation scanning check to identify any areas that may lead to an enquiry before they are submitted without explanation. This really does help to minimise the chances of you being on the wrong end of an enquiry.

Tax Disputes

It’s an unfortunate fact of business life that from time to time there will be disagreement between the taxpayer and HMRC. Sometimes it is the facts of the case that are in question but it is also often the legislation itself that is in question. Tax isn’t always black and white and where this is the case we are happy to argue your case in the strongest possible terms.

As a taxpayer you have many rights and we will ensure they are never forgotten by HMRC.

Disputes can arise in all sorts of areas outside of full enquiries and investigations including:

• Employment status disputes.
• Repairs v capital disputes.
• Private usage adjustments.
• Capital allowances – is it plant or property?
• Settlements legislation – the classic husband and wife company scenario.
• IR35.
• Valuations for tax purposes.
• Is it a trading activity?
• VAT segregation of businesses to avoid registration.
• Employee benefit disputes.
  
  

We have the specialist tax knowledge to assist with a wide range of tax disputes.

Tax Investigation Fee Protection

With the ever-increasing risks of full tax enquiries and investigations, it’s worth considering protecting yourself from the accountancy costs of dealing with it as the amount of work involved is often substantial.

You can get cover for the following:

• Self-assessment enquiries.
• VAT enquiries.
• PAYE and benefits enquiries.
• IR35 enquiries.
  
  

Even if HMRC finds nothing as a result of any investigation, you will still have unexpected professional fees to pay as a result.

We cannot prevent you from being investigated by the Taxman, but we can help to ensure that you get the best possible support and advice without having to worry about the cost.

Property Tax

We can advise you on issues such as:

• Tax reduction strategies for rental income.
• What is a repair and tax deductible and what is capital and not.
• When to use a Limited Company to save tax.
• Trading income versus Capital Gain considerations and advice.
• Capital Gains rollover and holdover considerations.
• Stamp duty planning.
• Tax efficient mortgage structures.
• VAT considerations of property deals.
• Making the most of the Principal Private Residence election.
• Tax issues on the sale of part of your residence.
• Second homes.
• Inheritance Tax angles.
  
  

Contact us for more information today.

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