We all have to pay our taxes but within the legal framework there are numerous ways of saving tax and making sure you do not pay a penny more than is absolutely necessary.
Whilst completion of tax returns and dealing with statutory tax obligations are important, we aim to offer more than just compliance services by working with you to take advantage of tax planning opportunities.
This is a key area in the strategic development of The Family Plan for the longer term and includes Capital Gains Tax, Income Tax, Corporation Tax, Inheritance Tax and Will Planning, Trusts and Pension Schemes, to name a few.
Our Strategic Planning service helps you to:
We work closely with other professionals including land agents, valuers, financial institutions and solicitors. We also consult directly with Tax Counsel on more complex tax and legal matters.
Tax Enquiries and Investigation
It is an unfortunate fact of life that you or your business may well be the subject of an enquiry by HM Revenue & Customs. This could be as simple as a request for more information or a full investigation which can be a worrying time for anyone.
If you are selected you need an accountant who knows how HM Revenue & Customs works, thinks and is prepared to fight your case. We make sure that the Revenue keep within the spirit of their internal guidelines and do not over step the mark. We will talk you through the enquiry process, what to expect and support you throughout.
We also offer a full Tax Investigation Service to help with the extra professional costs incurred in dealing with the Revenue in the event of an enquiry.
There can be significant penalties for not applying to be registered for VAT at the right time. When you have registered there are then a number of different schemes that you may be able to take advantage of to ease the VAT burden. These include annual accounting and flat rate schemes for certain trades.
We can assist you with the VAT registration process and advise on the best scheme to use.
We can also assist with the more complex aspects of VAT including property transactions and the implications for partial exemption.
Making Tax Digital
Once you are registered we can help with the compliance aspects of completing your VAT Returns and online filing or provide you with training so that you are confident to deal with this yourself.
Payroll and P11Ds
As well as processing the payroll for your business we can deal with all the necessary submissions required following the introduction of RTI (Real Time Information) when, now more than ever, it has to be done on time to avoid any nasty penalties.
After the tax year end we can also complete the forms P11D that are required for those employees who receive a taxable benefit from the business.
We can advise on the pros and cons of having a company car and the tax position for both the employee and the business. What about vans and mobile telephones which are commonly made available for use by employees?
We can help you through the minefield of legislation surrounding benefits and expenses to keep you on the right track.