Taxation

As tax advisers,our objective is to work closely with you to ensure you pay the minimum taxrequired by law. We will help you to understand the tax implications of youractions, in order that you can plan ahead and conduct your affairs in a taxefficient way.

Corporation tax services

UnderCorporation Tax Self Assessment (CTSA), the legal responsibility for correctlycalculating the corporation tax liability falls on business owners. Weunderstand the issues facing owner-managed businesses and can prepare taxreturns in a timely and efficient manner. We will also calculate your company'stax liability and assist with the calculation of any quarterly instalmentpayments.

The increasedreporting obligations, investigation policies on the part of the taxauthorities and harsher penalties for non-compliance mean that your time andresources can be taken up with tax administration. We will help to minimisecorporate tax exposure and relieve the administrative burden of compliance withcurrent tax legislation. Effective corporate tax planning can also result insignificant improvements in your bottom line.

Personal Tax (including sole-traders andpartnerships)

We are specialists in income tax, capital gains tax andinheritance tax.

Self Assessment
We havethe expertise and software to take the headache out of the form filling andcompliance aspect of Self Assessment. We can provide you with practical adviceon personal tax positions and the planning opportunities available to you. Wecan complete tax returns, calculate any tax liability and advise you on exactlywhen to make payments and how much to pay.

Personal tax planning
Today, more andmore emphasis is being put on taxpayers' individual responsibilities and everyonewho is subject to taxation needs professional advice and support if they are tooptimise their tax position and ensure they meet the compliance requirements.Our specialist tax team can provide you with year-round advice on all aspectsof personal taxation.

Estate planning
Few of us like tothink about dying, however the relevant legislation requires us to plan well inadvance. This means making the necessary provisions now. There are many taxopportunities available and the earlier arrangements are made, the greater thechance of taking full advantage of our complicated tax system.

It is important when planning to transfer anestate that adequate provision is made and getting the right balance requiresconsiderable skill and foresight – along with a detailed knowledge of thecurrent tax regime. We provide adiscreet comprehensive estate planning service that includes:

help with planning and reviewing a will;
making full use of exemptions and lower tax rates on lifetime transfers;
optimising lifetime transfers between family members;
transferring agricultural or business property;
transferring assets into trust; and
arranging adequate life assurance to cover potential inheritance tax liabilities.

We also have expertise indealing with trusts; a relatively easy and very tax efficient way to set asideassets for future beneficiaries outside the inheritance tax net. We can adviseon the most suitable type of trust to fulfil your wishes, assist in setting upthe trust and provide the full range of accounting services required for trustmanagement.

VAT

Ever changingregulations and the growing demands of HMRC mean VAT compliance can be adifficult administrative process. We canhelp to ensure that you comply with the regulations and that overpayments arenot made. To help you manage this complex area, we provide an efficient,cost-effective VAT service, which includes:

assistance with VAT registration;
advice on VAT planning and administration;
use of the most appropriate scheme;
VAT control and reconciliation;
help with completing VAT returns;
planning to minimise future problems with HMRC; and
negotiating with HMRC in disputes and representing you at VAT tribunals if necessary.

HMRC Investigations

Being thesubject of a tax investigation by HMRC can be a stressful and worryingexperience. With the onset of personal and corporate self-assessment, HMRCstaff can now review cases on a 'sample basis'; consequently, taxinvestigations have become more frequent. We have awealth of experience in dealing with HMRC investigations, whether they areenquiries into an individual’s Tax Return under the Self Assessment regime,more detailed enquiries or employer-related investigations into PAYE and P11dcompliance. If you are about to be the subject of an investigation, we canprovide expert help and support.

Tax protection

With the increased risk of such investigationsit may be worth considering taking out an annual insurance policy to protectyou and your business from unexpected costs; an investigation will undoubtedlyresult in additional accountancy work being undertaken. The amount of work willdepend upon the complexity of the case but the cost could be substantial.

Require more information?

If you would like more information or would like to ask us a question then call us on 01760 721728 (Swaffham office) or 01553 241794 (Kings Lynn office). To ask us a question online click here.