“Many businesses use surplus cash generated from successful trading to invest in property, the stock market or other investments.
Whilst commercially this makes sense, it can produce some adverse tax consequences. Our EQ Taxperts can review your business structure and risk profile which could significantly improve the position.”
“As pension tax breaks are set to diminish, don’t forget the humble ISA.
This potentially tax-free investment vehicle can be an effective way of building wealth, though separate investment advice should always be taken.”
“UK businesses that employ staff overseas should be mindful of their PAYE obligations. If staff are employed full time overseas, HMRC may not ask for PAYE to be withheld from the employee’s salary.
However, advice should be sought to ensure your business complies with PAYE regulations to avoid HMRC penalties.”
“In our experience, too many tax enquiries go on for too long and both HMRC and tax advisers adopt adversarial positions.
Enquiries are easier to resolve by creating a dialogue between the parties, and our Tax Enquiries & Investigations team has years of experience to ensure the whole process is as stress free as possible for you.”
“If you deferred your payment to HMRC for VAT returns due between 20 March 2020 to 30 June 2020, and still have payments to make, you only have until Monday 21 June to join the VAT Deferral New Payment Scheme.
The Scheme lets you pay your deferred VAT in interest free monthly instalments otherwise you must pay in full by 30 June 2021 to avoid interest and penalties.”
“The April 2022 deadline for VAT-registered businesses with a taxable turnover below £85,000 to join MTD for VAT will be here before you know it. Why not prepare now?
Speak with our MTD Taxperts to make sure you are using the correct software to submit your VAT returns and get started.”
“When purchasing property, one of the key questions is ownership with the options including limited company, joint, personal or in trust.
Advice is critical to ensure ownership is set up correctly at the outset, and our team of Property Taxperts can help you through the process.”
“HMRC have recently employed more than 100 new inspectors to review R&D tax credit claims and it is therefore imperative to submit robust, well-reasoned claims that you would be happy to stand behind in the event of an enquiry.
Our EQ Taxperts are here to help you submit thorough claims and will help you defend your claim if you receive an enquiry.”
“Share structures to incentivise key staff, to give greater opportunity for family members or simply to reflect what is right, can come in many forms.
For a flexible, tax efficient, highly motivating reward package, let us guide you towards the appropriate reward structure.”
“With many businesses investing heavily in capital expenditure to comply with COVID-19 restrictions, capital allowance planning is more important than ever as up to 130% tax relief could be obtained on qualifying expenditure.”
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Chartered Accountants
