Our business tax team will support you to achieve your goals by providing tax effective solutions.
We understand that each business is different in terms of requirements, operations and circumstances, so we provide focused advice and solutions rather than adopting a ‘one fits all’ approach.
Tax structuring is vital and can have a significant impact on both your future plans and your tax liability. Whether you’re buying or setting up a business operation, restructuring existing businesses, disposing of operations or simply want to make sure your existing structure is fit for purpose, we can help and ensure that the right consideration is also given to mitigating your tax bill.
Capital allowances
Many UK businesses pay too much tax because they underestimate the proportion of their capital expenditure which qualifies for capital allowances. These readily available reliefs are there primarily to encourage investment in plant and equipment.
Sometimes identifying qualifying expenditure is straightforward but for expenditure on building & building works can be less than straightforward not only to identify qualifying items but also to quantify the full cost including a proportion of overheads.
Property acquisition and sale
Tax issues arising on a property acquisition, whether for trade or investment can be complex. We can provide a single point of delivery on due diligence and acquisition structures as well as offering advise on VAT (option to tax), stamp duty land tax, capital allowances and tax efficient financing.
Property disposal
Similarly disposal of property have number of tax considerations. The professional advise can assist the businesses in deciding the timing of the sale and use of different type of tax reliefs available in each transaction.
Tax reliefs
Entrepreneurs usually expect to pay only 10% capital gains tax when they sell shares in their trading business as a result of Entrepreneurs’ Relief. Alternatively, if they want to pass them on to the next generation they might expect 100% Business Property Relief to prevent a 40% inheritance tax bill.
All this could be put at risk if the company holds rental properties or other investments. The ideal solution may be a tax-free property extraction which may also be required if a purchaser wants to buy your shares but not the property Each solution is different but our property tax team will guide you through to achieve your goals.
Corporation Tax
- preparation and submission of Corporation Tax returns and associated tax computations.
- drafting or reviewing tax disclosures in statutory accounts.
- optimising available reliefs and/ or claims.
- advising on payment of tax liabilities, including quarterly instalments.
- complying with mandatory iXBRL electronic filing requirements.
- reviewing prior year tax returns for optimisation of tax reliefs.