Tax Planning

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:

Some of these services will be provided in association with our subsidiary business, Whiting & Partners Wealth Management Limited.

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.

The best tax planning advice has to be to pay the correct (minimum) amount of tax, at the correct time, disclosed through the correct mechanism. Instruct our tax specialists, to act in your best interests and ensure that you could not be structuring your affairs in a more tax efficient manner.



 
Latest Blogs in Tax Planning
 
Mark Burrows
16th August 2017 Do Company Directors have to file a Tax Return?

    The First-Tier Tribunal recently decided that HM Revenue & Customs were wrong to assume that all Company Directors are required to complete a Self Assessment Tax Return (Mohammed Salem Kadhem v HMRC). The taxpayer appealed against HMRC penalties for failing to submit his Tax Return because he owed no tax – the only…

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Barbara Nicholas
10th August 2017 HMRC scam alert

  A number of our clients have been on the receiving end of bogus calls/emails purporting to be from HMRC – either threatening legal action for unpaid taxes or offering refunds. Our experience is that these can be very well drafted and the telephone scams in particular have fooled a couple of our clients, one…

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Barbara Nicholas
30th June 2017 Non-Resident Capital Gains Tax Returns – penalties eased

Since April 2015 non-residents selling UK residential property have been required to report the disposals within a Non-resident Capital Gains Tax return within 30 days of the conveyance.  You can view HMRC’s guidance here The timeframe is very tight – some may think unreasonably so, especially since many individuals are unaware of this requirement until…

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Barbara Nicholas
19th June 2017 Capital Gains Tax when you sell your house – make sure you disclose all the facts to HMRC

HMRC’s ongoing scrutiny of private residence relief is in the news again, with another case going before the First Tier Tribunal. Mr & Mrs Ritchie were partially successful in their claim for relief on the sale of their home, which cost them less than £200,000 but which they sold to a developer for £2 million.…

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Jeannette Hume
5th June 2017 R&D Claims: Is HMRC advance assurance a good idea?

In a bid to give companies more certainty over whether or not their R&D claim will be successful, HMRC introduced an advance assurance process in November 2015. If you pass this new test, HMRC will agree not to enquire into your R&D claims for the first 3 accounting periods of claiming this relief. So is…

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Paul Jefferson
30th May 2017 VAT – Bad debt relief – An important administrative VAT point

Several years ago changes were made to the H M Revenue & Customs policy regarding recovery of output VAT paid over but which hadn’t been received within 6 months of the due date.  Relief for the output VAT can now be obtained much more easily than under the historic process whereby notification was required to…

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