We offer a personal and integrated approach to your business tax affairs.
We give proper consideration to your business, how it operates, your aims and commercial goals to manage your compliance and make sure that you pay the right amount of tax at the right time.
The tax position for corporates changes all the time. In addition to an increasing number of tax rules, there is a more determined enforcement regime by HMRC backed up by the UK government’s emphasis on responsible tax planning and ‘enforcement’ against ‘aggressive avoidance schemes’.
In addition to continuous new legislation, changes are made in the way the law is interpreted and the techniques used by HMRC to obtain reporting and enforcement.
We have industry knowledge and expertise which enables us to give specialist advice on common reporting and tax issues.
Transaction Services Tax Advice
Whatever type of transaction you may be considering: an acquisition, sale of an asset or a company, a demerger or splitting out a business, the incorporation of a new company or using a partnership structure instead of a corporate entity, we bring commercial and practical acumen to help with the business structure and the tax planning.
We are here to listen to what is going on in your business. In order to give the best structure for tax planning we need a clear understanding of the drivers behind the deal, why you are entering into the transaction and what your business aim is.
We can provide focussed due diligence to enable a clear understanding of the tax position of a target or the tax position on a joint venture.
We are innovative and able to create hybrid and specialised structures to enable different types of owners to participate in ventures at the optimum tax position for each.
A restructure may be needed to provide a more commercial structure to take a business to market, to remove non-core business, mitigate potential risks associated with different aspects of the business and to provide an easy vehicle for the future hive off of different trades within one multi-faceted business. Whatever the driver for a potential change, each needs careful planning to ensure that they meet commercial requirements, minimise tax payable and ensure all reliefs available are preserved or claimed.
This can also include changes to a company’s shareholding structure including shareholder exits, Capital Reductions and Purchase of Own Shares.
It is important to consider the position of senior managers and stakeholders in the business moving forward and the tax implications on them. It may be desirable or necessary to tie them in or provide an incentive to encourage them to stay any such device can be structured to make the most of beneficial tax regimes. We can offer advice and guidance on Enterprise Management Incentives and Management Buy Outs to help grow your business and incentive key employees.
Employees and Tax
Recruitment, retention and motivation of the talented people you need in your business is critical. The law relating to employee benefits and reward strategies is complex and frequently changed. We can provide you with comprehensive support on how to comply with the rules.
The way in which members of staff are invited to become shareholders and senior employees,’ directors and shareholders needs to be carefully considered before the offer is made. This will mean you to get the greatest benefit from the offer being made, both in terms of ensuring that any tax payable is kept to a minimum and the motivational benefit is maximised.
We can help you with our complete payroll system delivered electronically. It allows you to comply with the HMRC Real Time Information Reporting requirements. We email you a payroll summary report and provide electronic payslips together with guidance on what to pay, when to pay and how to pay. Each member of staff has a personal log in and password and receives an email to notify them when their new payslip is available to view on our secure online portal. This includes compliance with the P11D process Income Tax and National Insurance Contributions for “benefits in kind”.
We can also offer support and advice on issues surrounding automatic tax deductions under Pay As you Earn (PAYE) and Employers and Employees National Insurance Contributions.
We can also help you decide on a suite of benefits and help your employees in their selection process by providing a tax and NIC calculation together with a take home pay figure so that they can assess the benefits on offer and decide which is best for them.