Traditionally, tax planning is the service clients most like to receive and the most satisfying for us to deliver. Typical areas where a little prior tax planning can result in minimising your overall tax leakage are:
- Inheritance Tax:
- Capital gains tax:
- Income tax/NIC:
- Corporation Tax:
- Taking best advantage of registration and deregistration rules.
- Transaction structuring (including property options to tax),
- Selecting the most appropriate basis, scheme and interval to complete your VAT returns,
- Delaying VAT payment to HMRC.
- Stamp Taxes
- Transaction structuring, to minimise Stamp Duty and Stamp Duty Land Tax by claiming appropriate reliefs and exemptions.
As well as making sure the tax returns we prepare and advice we give is in accordance with tax legislation, statements of practice, extra statutory concessions and HMRC manuals, we will also be mindful of opportunities presented from relevant case law:
Useful precedents Quinn (R&D Relief) | May (Capital allowances) | Daniels (IR35) | Anderton (Business asset roll over relief) | Foulser (Share valuation discounts) | Ames (EIS) | Phillips (Business property relief)
Agreeing your business tax liabilities with HMRC is principally achieved by completing and submitting the relevant ‘self assessment’ tax return. Clients who are fearful that this ‘disclosure’ may be investigated by HMRC may wish to consider taking out our tax investigation insurance.