“Can you honestly say that you understand your business set up? If not, make sure you take advice to ensure the principles of simplicity are not forgotten.
Managing the day to day running of your business can take away from the actual business. We can assist you with the financial and operational side so that you can focus your efforts on what’s important to you and your business.”
“Building new commercial premises?
Before the project is underway, please speak with our Commercial Property Taxperts who are well versed in securing excellent levels of tax relief against these costs.”
“With the Annual Investment Allowance (AIA) for capital allowances extended until 31 March 2023, businesses should plan their capital expenditure over the next 11 months to maximise the 100% tax relief available for qualifying expenditure.”
“Particularly in the last couple of years, we have noticed a huge increase in erroneous coding notices being issued by HMRC.
Do not assume that, just because the code comes from HMRC that it is correctly calculated. Always check your code to ensure you are being taxed appropriately.”
“The decision to move abroad or return home to the UK can have significant tax implications.
Careful tax planning can help you to overcome any potential risks and can also help you to take advantage of any tax planning opportunities from your move.”
“We’re often asked what the key to delivering great tax advice is.
It’s a simple answer – having a relationship with your client so you truly know them, their business, their family circumstances and their objectives. If you ally that with up to date, accurate financial information and technical expertise, then that is a terrific start.”
“When looking to incentivise key people, consider use of equity whether that might be in the form of share options, subscription for shares or perhaps sophisticated bonus schemes linked to the value of a business.”
“The main costs within an R&D claim will be staff costs.
Staff costs include gross salary, employers’ NIC and employers’ pension contributions and given the generous tax relief applying to eligible costs, this may factor into your company’s consideration of remuneration planning, particularly for small businesses.
Remember, dividends do not qualify for R&D uplift.”
“Tax can be highly complex and often accountants, solicitors and other advisers can be guilty of overcomplicating a deal.
Remember when considering the drafting of an agreement, that simplicity should be one of your key considerations. We urge you not to sign up to a deal that is too complex.”
“HMRC now receives information from over 100 countries on international investments and financial structures held offshore by UK tax residents.
There will be penalties for not declaring such overseas assets so if you are UK resident and have any offshore assets or income, you need to let your advisor know.”