These days, many consider tax mitigation unethical. HM Revenue & Customs propaganda and a propensity for creating retrospective legislation to counter certain tax planning fuel this. Whilst it is still perfectly legal to mitigate your tax liabilities, care needs to be taken to ensure it is not considered to be aggressive.
Corporation tax will represent a substantial cost to any profitable business, not only in terms of the tax itself but also in compliance with reporting obligations, investigations with tax authorities and penalties for non-compliance. This will only get worse as tax rates will rise in 2023 by up to 32%.
We can help you minimise your corporation tax payments and relieve you of any administrative burden of complying with tax legislation. We will deal with all business tax matters, including preparing corporation tax computations and preparing and submitting your corporation tax self-assessment return using the required filing protocols.
Personal tax compliance work forms a significant part of the advice given to clients. As well as dealing with our business clients tax affairs, we also look after a number of personal tax only clients, including directors of major public companies and individuals working offshore.
We also deal with a number of Trusts and assist in all necessary tax work in these complex areas. Trusts are often considered complex vehicles reserved for the rich but they can also be useful tools to help individuals secure assets for future generations and can add a degree of flexibility to financial wealth and inheritance tax planning. We work with specialist legal partners who prepare bespoke trusts to suit your specific needs.
Apart from our business clients, our largest number of personal tax clients are Buy To Let Landlords. This group of clients represent over a third of our personal tax cases. Recent law changes such as restrictions on mortgage interest deductions, flat rate deductions and, for those that sell properties, the 30 day capital gains tax reporting requirement has made this a specialist area for us.
Whether you need annual tax return preparation or assistance in filing your capital gains. Click here for details of our fixed price taxation services