TAX PLANNING
We have numerous strategies covering a vast array of Taxes including Income Tax, Corporation Tax and right through to Estate Planning and Generational Succession and all of them are based on GAAP (Generally Accepted Accountancy Principles) because it is our belief that Tax Avoidance Schemes (no matter how well constructed) will only lead to problems at a later date, when HMRC & the Government, not only move the goal posts but remove them altogether, so we advocate practical planning, the paying of some tax and an open policy when it comes to planning. This way there are fewer issues to deal with and it shows that our clients are accountable and acting in a responsible way, also there is no antagonising the authorities.
Tax is not a subject most people wish to deal with and once again most people receive an account from HMRC / accountant and assume that this is correct and they pay it, however prevention is better than cure and should a client take a little time in advance of matters, then the outcome could be totally different.
USING HMRC’S OWN SCHEMES
Our clients can and do get large amounts of money / investments into their companies using the tax efficient vehicles set up by HMRC, there are numerous incentives provided by HMRC which people can take advantage of, but if you don’t know, then you don’t know. There are fantastic services within HMRC such as:
Research & Development (which can be for more than you think)
Capital Allowances
VAT Refunds
Tax Rebates
Loss allowance
Business Relief
Entrepreneurs Relief
Marginal Relief
Seed Enterprise Investment Scheme
Enterprise Investment Scheme
And others.
There are a number of areas where clients can find funding and allowances against expense and don’t just think “Well my accountant deals with all of that”, do they? If you haven’t claimed or used all of the above, then chances are they have not "dealt with all of that".