Business tax planning

Corporation tax
Corporation tax represents a very substantial part of your trading costs, so it makes sense to seek expert advice on ways to minimise your liability.

Because corporation tax is carried out under a self-assessment regime, professional advice and support is essential in ensuring that your company's tax affairs are in order, as the onus for completing your return, calculating the tax and making payments to meet HM Revenue & Customs’ (HMRC) deadlines is legally the responsibility of your company and its directors.

Our experienced team will assist in completion of your return and tax calculations, while our knowledge and expertise can assist in mitigating the risk of an enquiry.

We will also work with you on comprehensive forward planning to take the maximum advantage of tax allowances and reliefs and organise your business affairs in the most tax-efficient manner.

Capital expenditure and capital allowances
When your business is growing – or you want to prepare the ground for future growth – you will almost certainly need to invest in buildings, plant and machinery. This is likely to involve significant sums of money.

We can help you to achieve the maximum benefit from your investment, by planning your capital expenditure to achieve the most tax-efficient solutions, both in terms of timing and tax allowances.

The tax reliefs available under the capital allowances regime are complex. Our experience shows that many businesses lose out financially each year as a direct result of unclaimed capital allowances – because they are not aware of these allowances, do not fully understand the benefits of claiming these reliefs, or how to claim in the most effective way, or because they fail to claim in time.

So it makes sense to talk to our expert team as soon as you start thinking about capital expenditure, so we can develop a spending strategy that makes best use of capital allowances, as a valuable incentive to building your business.

Year end reviews
Business owners have traditionally considered the annual audit and preparation of annual accounts as a time-consuming, expensive but unavoidable exercise.

We believe this is an ideal opportunity to take a thorough look at your business and identify ways that could help you to operate more efficiently and cost-effectively.

A review of your financial and management systems can often result in our identifying potential problem areas or opportunities.

As well as putting forward practical solutions, we’ll also take an objective, realistic view of the bigger picture for your business.

And because we take time to get to know you and your enterprise, you can be sure that our commercially-minded advice will make sense.

The year-end is also an ideal time to sit down with our expert team to think about your future plans and expenditure and to plan ahead for maximum tax-efficiency and improved cash flow.

Tax returns
We offer an efficient and comprehensive tax return service for sole traders, business partnerships and company directors, whether resident in the UK or not.

We can prepare returns, carry out tax calculations, correspond with HMRC on your behalf and deal with any enquiries regarding self-assessment tax returns.

Pay As You Earn, National Insurance and Construction Industry Scheme returns
As the legislation governing PAYE, National Insurance and the Construction Industry scheme (CIS) becomes increasingly complex, the possibility of errors or omissions with potentially serious consequences – such as investigations or fines – also increases.

If you are an employer or contractor, you will be only too aware that you must complete various regular returns for compliance with HMRC requirements.

We can work with you to make sure you meet all your compliance obligations, to avoid financial penalties. You may also be interested in our payroll service.

Planning for business sales, acquisitions and reorganisations
By considering in advance the structure of this type of transaction, we can find opportunities to reduce your tax liability.

If you are not currently a client of the practice, we would be happy to review an existing proposal for you, without disturbing your relationship with your existing accountants.

VAT advice
Value Added Tax is one of the most complex tax regimes facing businesses – so challenging that may businesses unintentionally overpay or underpay VAT.

Dealing with VAT issues can also divert valuable resources within your business that could be used more usefully elsewhere.

A trained, professional eye is essential to ensure that you do not fall foul of VAT regulations and pay more tax than you need to.

We can advise on the VAT implications of everyday business transactions, as well as irregular transactions and property deals, to ensure that your business complies with ever-changing regulations. Our VAT services include:

  • assistance with VAT registration
  • advice on VAT planning and administration 
  • VAT control and reconciliation 
  • help with completing VAT returns 
  • negotiating with HMRC in disputes and representing you at VAT tribunals.

For further guidance on VAT matters, including registration thresholds, click here to visit the HMRC VAT web pages.

Insurance against investigations
We can arrange an insurance policy for you that will cover our fees for dealing with most HMRC and PAYE investigations.

We can manage the investigation for you, liaising with HMRC, preparing the necessary documents and conducting negotiations over tax, penalties, interest and settlement terms. Our insurance policy also gives you access to a free law and health and safety telephone helpline.

If you would like to find out more about how we can help you, please contact us.