Business tax
Tax computations and returns form part of the annual service for all clients.  Every set of year end accounts is linked to a calculation of the tax due and a return based on the figures in the accounts.

To be able to create an accurate tax computation and return it is necessary to understand the UK tax system.  Even the simplest business will have tax questions regarding deductibility of expenses and how to treat purchases and sales of assets.  We have carried out this work for small businesses since 1991 and, as qualified accountants, we understand the details behind the raw figures of a tax return.

Employment income
Earnings from employment are taxed through PAYE schemes.  The range of expenses that can be claimed is much more restricted than for business expenses.  The additional rule that reduces the range of deductible expenses is that the expenses must be ‘necessarily’ incurred.  Expenses that can be claimed include business travel and some professional subscriptions.  Areas that we are typically asked about include termination payments, salary sacrifice schemes and benefits in kind.

Capital gains tax
Capital gains tax arises when a person disposes of a chargeable asset.  A disposal could be a sale, gift, loss, destruction or surrender.  A chargeable asset is almost anything with value; the most common exceptions are cars and cash.  Capital gains tax most often arises as part of share transactions in limited companies, the sale of a business or goodwill and when incorporating a business.  Individuals will require capital gains tax computations if they sell any stocks or shares.

Overseas taxation
Individuals entering or leaving the UK, whether permanently or temporarily, will require analysis of their residence, ordinary residence and domicile status.  These attributes can then be applied to each income source and capital gain to determine the tax treatment.  Additional issues arising may include travel and subsistence expenses and double taxation relief.  Trading abroad must be distinguished from exporting.

We can assist with these issues from a UK tax perspective.  We do not advise on any aspect of taxation or laws of other countries.

Other taxes
We have experience and are qualified to advise on many of the tax issues you may face involving VAT, national insurance, stamp duty and inheritance tax.  We do not advice on tax planning involving the use of overseas trusts.

Tax enquiries and penalties
Since the introduction of self assessment in 1996 HM Revenue and Customs have carried out random enquiries in addition to those arising from tip offs, anomalies and errors.  There is no longer a stigma attached to tax enquiries, they are now part of business just as VAT inspections are.

We can assist with all aspects of tax enquiries including the procedures, how to respond to requests and questions from HM Inspector of Taxes and the technical aspects of tax and negotiations. 

Other tax related projects
The menus on the left link to separate pages covering the taxation of cars, properties, employment status and IR35.  The Business Advanced webpage covers some of the specific tax related work we carry out.  These include projects such as incorporations and Enterprise Management Incentive (EMI) share option schemes.