Corporation tax

This is a very diverse subject matter which goes beyond completing the end of year returns and computations. Each of our corporation tax clients receives a tax health check to identify areas where the total tax bill of the company could be reduced. This includes looking at your industry to see if there are any reliefs available, how the directors are paid and how disposal & acquisitions are treated.

Corporation tax computations and corporation tax returns are prepared on your behalf as are elections and dispensations that can reduce some of the tax administration burden from your Company.

If you would like to discuss your tax affairs with us then please contact Michael Andrews.

Personal tax

It is always a good idea to review your personal tax affairs to ensure that you are not paying too much tax.  Do not resign yourself to paying the HM Revenue & Customs a chunk of your money whatever you do; there are still plenty of opportunities within the current tax system. In these fast moving times, with HM Revenue & Custom’s aggressive stance the rules on taxation are changing and becoming ever more complex.  To take advantage of the opportunities that are still available, then good tax planning is the way to go.

Income Tax Planning

As well as our Tax Return service, we place great emphasis on working with you to develop strategies that will ensure your tax bill is kept to a minimum.  Regular meetings are vital and will cover:

• Incorporate or not to incorporate, that is the question!
• Director’s tax efficient remuneration
• Lease or buy
• Tax efficient benefit packages
• Financial planning for the family run companies

Tax Returns

Helping you with yours…

Under Self Assessment, the taxpayer has responsibility for correctly completing a full Income Tax Return and settling all liabilities by the due dates.  Failure to comply with the regulations will result in automatic penalties and interest.  Our comprehensive Tax Return Service is designed to make compliance with the regulations as easy as possible for you.  The service is provided by a professional team who are highly experienced in providing support and expertise in this important area.

To cater for your specific needs, we provide the following range of services:

• An annual meeting with you to discuss the Tax Return
• Preparation of your Income Tax Return
• Calculation of your tax liability for the Tax Return year
• Online submission of the completed return to H.M. Revenue & Customs
• Calculation of future tax liabilities and advice on due dates of payment
• Advice on securing tax repayments
• Checking and agreeing Inland Revenue demands and personal tax coding
• An overall tax and financial planning review

If you would like to discuss your tax affairs with us then please contact Michael Andrews.

Capital gains tax

The last round of reforms have shown what a hot topic capital gains tax or CGT has become.  

With so many reliefs available it is often said that Capital Gains Tax is almost an optional tax. However, the Inland Revenue still manages to levy a significant tax charge on the disposal of your assets. The main reason for this is lack of CGT planning. So if you are thinking of disposing of an asset, whether it is your business, an investment property or simply some of your shares, contact us – we may be able to help you protect your hard earned capital.

Some CGT planning needs to be done over a number of years so the sooner we meet, the sooner you can start to be protected!

If you would like to discuss your tax affairs with us then please contact Michael Andrews.

Inheritance tax

Inheritance tax is no longer the tax of the privileged classes it is something that is already touching many and will touch many more in the future.

But inheritance tax or IHT is still a tax of choice.

It does not have to be paid if proper long term IHT planning is done in sufficient time that works within the Inheritance Tax legislation.

Following our IHT reviews, many of our clients have found that Inheritance Tax is the single biggest tax burden that they are likely to face in their lives and that by ignoring it could end up jeopardising the way they were seeking to protect their loved ones.

Our inheritance tax and estate planning services include:

• An initial detailed meeting to discuss your personal circumstances
• Full valuation of your estate including unquoted shares
• Assessment of your current inheritance tax and potential Capital Gains Tax liabilities
• Advice on lifetime planning
• A full review of the tax-efficiency of your will
• Written report containing your personal tax planning strategy

In developing your personal strategy, we will consider the following:

• Ensure you have a tax-effective will
• The use of all IHT and CGT gift exemptions
• Equalisation of estates
• Lifetime transfers
• The use of trusts
• Application of Business and Agricultural Property Relief
• Funding of eventual inheritance tax liabilities
• Interaction with Capital Gains Tax
• Gifts to charities and other worthwhile causes
• Ownership of the matrimonial home
• The impact of long-term care funding
• Consideration of domicile status

If you would like to discuss your tax affairs with us then please contact Michael Andrews.

VAT

If you are one of our clients then you don’t have to worry about VAT, we take care of it for you. From completing your original registration forms, to assistance with filling in your returns, to managing a VAT enquiry on your behalf right through to deregistration, EAS will be there for you.

We can advise you on how to maintain your records to help prevent a VAT enquiry, VAT qualifying expenditure and the beneficial schemes that are open to certain trades.

Trouble shooting and problem solving

Following a VAT inspection, liabilities can arise.  We specialise in reviews of assessments and can ensure that liabilities and any penalties are minimised.

Our services include:

• Negotiations with Customs & Excise
• Attendance at VAT tribunals and investigations
• Use of legislation to support your case.

However, prevention is better than cure. So many clients enjoy peace of mind through our advice on VAT compliance and through our VAT Health Check.

Compliance Services:

• VAT registration and de-registration
• Advice on choosing the correct specialist industry scheme
• Completion of VAT returns
• A check on your own VAT compliance procedures if necessary.

Health Check and Planning

Our VAT health checks ensure that your tax system complies with VAT legislation and corresponds with correct procedures. It also identifies any VAT planning opportunities of which you could take advantage.

Our services include:

• VAT health checks
• VAT planning
• VAT assessment reviews
• Partial exemption reviews and planning
• Schemes for cash-flow benefit
• Advice on trading in Europe
• Practical support during VAT inspections

We see VAT as an integral part of our services to our clients so if you would like to discuss any aspect of VAT then please contact Michael Andrews.