We will work closely with you to ensure that your tax liabilities are minimised. We will help you to understand the tax implications of your actions in order that you can plan ahead and conduct your affairs in a tax efficient manner.
Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability rests with the directors. We understand the issues facing owner-managed businesses and will prepare tax returns in a timely and efficient manner. We will also calculate your company's tax liability and assist with the calculation of any quarterly instalment payments.
The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that valuable time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with tax legislation. Effective corporate tax planning can result in significant reductions in tax.
It is essential to maximise the benefit of capital allowances. We can advise you on the available capital allowances, such as:
- plant and machinery;
- energy saving and environmentally beneficial plant and machinery, for example, low emission cars;
- integral features and long life assets.
We can also advise on the tax implications when purchasing or selling a building containing fixtures and fittings to make sure your position is optimised.
Research and Development tax credits
Research and development (R&D) tax credits are a welcome and increasingly valuable tax relief. They offer businesses an enhanced deduction for qualifying expenditure and in some cases a tax credit.
We can help you to identify whether your company is carrying on qualifying research and development, quantify the eligible expenditure and present an appropriate claim to HMRC.
Being the subject of a tax investigation by the H M Revenue and Customs can be a stressful and worrying experience. With the onset of personal and corporate self-assessment, HMRC can review cases on a random basis. Consequently tax investigations have become more frequent. We have experience in dealing with tax investigations, whether they are enquiries into an individual tax return under the Self Assessment regime, more detailed business tax enquiries or employer-related investigations into PAYE and P11d compliance. If you have a tax investigation, we can deal with this on your behalf.
Tax enquiry fee protection
An investigation will undoubtedly result in additional accountancy work being undertaken. The amount of work will depend upon the complexity of the case but the cost could be substantial. We offer all our clients the opportunity to subscribe to a fee tax protection service which for a modest annual fee covers the cost of responding to HMRC enquiries