Corporate tax planning is exceedingly complex and with legislation frequently changing, it makes it difficult to keep up-to-date with the best ways to minimise your tax liabilities.
Our corporate tax experts have extensive experience helping companies manage their compliance reprinting obligations and provide proactive tax planning strategies. We seek to understand your company to ensure we highlight all relevant reliefs and structuring opportunities.
We also provide a complete tax investigations service.
The Research and Development (R&D) and Patent Box tax reliefs are two of the most beneficial tax reliefs for qualifying companies. They provide opportunities to reduce the company’s annual corporation tax liabilities and/or crystallise tax repayments.
R&D is not only undertaken by teams in lab coats or computer programmers and there are a number of business sectors which can qualify for R&D and Patent box relief. Our team are experienced in working with a wide range of business to assess and maximise their tax position, utilising these reliefs.
We can work with your in-house staff to collate the necessary details of the projects undertaken for R&D relief and to establish suitable accounting reports to identify qualifying patent box income and profits. If your business is highly specialised or you need assistance to record the technical detail of the work being undertaken, we work with a number of specialist R&D consultants to ensure you are always in a position to maximise your relief.
We work with a number of surveyors and capital allowance experts to provide fully documented support for any capital allowance claims relating to property acquisitions or improvements.
Whether your property plans are large or small it helps to consult us in advance of any major works to ensure that available allowances are maximised.
We can advise on capital allowance claims in relation to plant and machinery and any other assets including the timing of acquisitions to maximise relief.
Following the success of the Research and Development relief scheme and to encourage investment in a wide range of business, arts and cultural exploits, HMRC have in recent years expanded the range of specialist reliefs available. These now include; Film Tax Relief (FTR), Animation Tax Relief (ATR), High-end Television Tax Relief (HTR), Children’s Television Tax Relief (CTR), Video Games Tax Relief (VGTR), Theatre Tax Relief (TTR), Orchestra Tax Relief (OTR) and Museums and Galleries Exhibition Tax Relief (MGETR).
Each scheme has its own rules, but provides either enhanced tax deductions or payable tax credits for qualifying activities within the prescribed terms of each scheme. Our corporate tax experts have worked with a number of businesses seeking to benefit from these reliefs and are able to assist any company or organisation, to assess the benefits and the required work to meet the qualifying conditions.
The resurgence of the UK property market has created excellent development and investment opportunities. We act for a wide range of clients; from residential and commercial developers through to commercial investors, landowners and private clients with property portfolios.
Our team can advise on tax efficient structures and the tax reliefs available in relation to VAT, Stamp Duty Land Tax and income and capital taxes as required. There is also the Annual Tax on Enveloped Dwellings (ATED) to consider, for companies that own UK residential property valued at more than £500,000. We can assist with the latest reporting and compliance requirements for ATED and the regulations for commercial and buy-to-let properties. Furthermore, we support construction businesses in their compliance to Construction Industry Scheme (CIS) rules.
Whether you are contemplating buying or selling a business, partnership interest or company tax is likely to be an important consideration. We work with a range of business owners to help them structure their businesses in a tax efficient manner and realise value from any exit opportunity.
We can advise individual acquirers, vendors, groups of individuals and businesses themselves, looking to make acquisitions both in the UK and overseas, in collaboration with our international associates. We are able to seek the necessary clearance applications from HMRC and assist vendors in providing the necessary disclosure for their subsequent self-assessment returns.
Buying a business or company has potential risks that you acquire liabilities that you were not previously aware of. Our team can provide due diligence reports on the target business, to identify tax risks which may arise from reporting errors in corporate tax, VAT and PAYE and employment returns. Our work is tailored to the size and perceived risk of the target business and our reports clearly identify areas of concern and provide advice on how to mitigate the risks.
No business acquisition or disposal is achieved without a sale and purchase agreement and other agreements. Our team can advise on relevant disclosure for vendors and protection for purchaser and vendor through the warranties and indemnities.
Whatever the size of the transaction, tax advice can be essential in ensuring that opportunities are not missed or liabilities accepted unwittingly.