The regulations surrounding Value Added Tax can be complex. Our in-house VAT specialists provide dedicated support to sole traders, partnerships, limited companies, unincorporated entities and LLPs on everything relating to VAT planning. 

We can help you establish whether you need to be VAT registered, complete and submit VAT returns on your behalf, and provide consultancy services that allow you to maximise your VAT recoveries while minimising VAT due. 

In addition, we can give you or your company a thorough VAT health check and provide training for your staff in all areas of VAT. We also can assist with visits from HM Revenue & Customs and seek agreements or rulings from the Commissioners of HMRC.

As members of the MGI network we can put businesses in touch with advisers outside of the UK to assist with tax and VAT planning with regards to trading in other countries.

Stamp Duty Land Tax (SDLT) is payable by the purchaser in a land transaction occurring in England and Northern Ireland. A transaction triggers a liability if it involves the acquisition of an interest in land, including a simple conveyance like buying a house, creating a lease or assigning a lease. This tax must be paid when a contract has been substantially performed – in cases where the purchasers takes possession of the property on completion of the transaction, this is the due date.

Our team of tax specialists have decades of collective experience and extensive technical knowledge, and stay informed in the complex and frequently changing area of tax. Whether you’re a commercial landlord, residential landlord or legal professional, we help enable you and your clients to make informed, confident decisions relating to SDLT. This ensures you make full use of the reliefs and exemptions available to you, and that all transactions you manage are structured in the most tax-efficient manner.

Capital allowances are complex. Our highly experienced tax planning specialists help you to identify potential issues and maximise the available tax relief on allowances, which can be claimed by any business or individual who is self-employed, a sole trader or trading partnerships against purchases for assets, including machinery, equipment or any type of motor vehicle deemed as a capital asset for your business.

Not every asset qualifies for capital allowance, the threshold at which an asset qualifies for an allowance depends on the size of your business. For instance, claims can be made for expenditure on fixtures and fittings in commercial buildings.

We work closely with businesses and individuals to pursue relief on tangible capital expenditure, and secure allowances that enable permitted deductions from your profits before you pay tax.

With the support of our in-house financial services and corporate finance teams, we can assist and work alongside you and your business leaders to advise on the most tax effective way to proceed with and support your estate and succession planning.

Inheritance tax (IHT) is currently payable where a person’s wealth exceeds £325,000, if you own your own house and have savings, life assurance policies or business assets, your estate could be liable. When you pass away, this will be charged on your personal wealth, together with all or a proportion of your lifetime gifts made in the preceding seven years.

Planning to minimise your IHT liabilities is a team effort. We consult with you to set long-term objectives and decisions about your finances, your family and your business, with the goal of mitigating your exposure to IHT and reducing the tax burden on your beneficiaries.

We advise on a range of tax-efficient employee incentive schemes and assist in putting these in place, including Enterprise Management Incentive (EMI) share schemes. This assists you in attracting and retaining key staff and your business succession plans.

In addition, it is required to notify HM Revenue & Customs if you are using a tax-advantaged HMRC scheme such as EMI or another employee share incentive plan. Our experienced tax specialists help you notify the correct people and ensure you stay compliant.

With a wide choice of investment options available to individuals, partnerships, and companies, our highly experienced team can guide you to the most tax-efficient investments for you and your business. 

Our tax planning specialists can assist you in claiming enhanced tax relief across a range of government incentives, including Enterprise Investment Schemes (EIS) and Seed Enterprise Investment Schemes (SEIS). We use our experience and develop a deep understanding of your goals to advise, structure and maximise your reliefs.

Entrepreneurs’ Relief is a favourable treatment for capital gains tax (CGT) arising on certain business transactions, such as disposing of the whole or part of a business (whether it is incorporated or not). Our specialists help you to understand this treatment and explore tax planning strategies to maximise the relief. 

Instead of capital gains being taxed at the taxpayer’s normal CGT rate, for example 20% for higher-rate taxpayers for non-residential property disposals, the rate to be applied on qualifying gains (up to £10 million) is reduced to 10%. Therefore, on a qualifying capital gain of £1 million, the relief amounts to a tax saving of £100,000 (a saving of 10%).

In most instances, Entrepreneurs’ Relief is available to sole traders and partners selling/gifting the whole or a distinct part of their businesses to company directors and employees holding at least 5% of the ordinary shares and voting rights in a qualifying trading company.

We can advise on compliance matters on the disposal of your commercial and residential properties and assist with tax planning, related to the capital gains tax (CGT) payable on transfers of property.

We ensure that Principal Private Residence and Letting Relief are obtained on residential properties, reducing your CGT bill. In addition, we work closely with you to realise the most cost-effective way to declare capital gains arising on UK properties owned by non-resident landlords and transfers of property between family members.

We understand that every business is unique, and determining the ideal tax structure for your company out of the many available options can be difficult. We care about helping you achieve your goals, and our tax planning advice is built around your company’s needs and your future plans, advising on the most tax-efficient structure for you.

We can also provide you, your business and legal representatives with a range of bespoke services, such as tax-related valuation work and single or joint expert reports for dispute cases.