Our team specialise in providing commercially optimised personal tax planning, with the aim of preserving wealth. No situation is the same so we will always spend time with you to understand your needs and to tailor our advice accordingly.
Self-assessment and personal tax planning
With over 25 years’ experience our personal tax manager will provide you with practical advice on personal tax positions and the planning opportunities available to you. We will complete and file your self-assessment tax return and advise you on exactly when and how much to pay. Our advice is geared to:
- Self-employed traders, partnerships and LLPs
- Company directors, LLP members and HNW individuals
- Non-resident and non-domiciled individuals
- Trust Beneficiaries
- Property owners, including non-resident landlords
Keeping abreast of developments and the application of Finance Acts, we helped our private clients seize the following tax planning opportunities in 2016-17:
- Income tax planning for UK nationals
- International tax planning for non-UK residents, including establishing UK tax residency
- Investing in the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS) to actively reduce income tax and capital gains tax liabilities
- Capital gains tax reliefs
- Carry-back of trading losses
- Incorporating let properties into a company
- Claiming tax-relief on pension contributions and protecting pension pots
Succession planning and Inheritance Tax (IHT)
The time to think about succession planning is now. Whilst your estate is likely to attract IHT, we view IHT as entirely optional because of the reliefs that are available. We are here to advise you on timely tax efficient planning to help maximise the benefits of your estate for your loved ones.
We formulate our advice based on your tolerance for risk and any liquidity, legal or other unique considerations that may be relevant. We will spend time with you to understand your personal circumstances, your other sources of income, how your business is structured and when you plan to realise your investments to make sure that we are accurate and comprehensive when it comes to estate planning. Our advice will always seek to balance the two main concerns clients have with inheritance tax planning: the loss of access to income/capital and the loss of control over the assets themselves.
Our discreet and comprehensive succession planning encompasses:
- Help with planning and reviewing a will
- Making full use of exemptions
- Optimising lifetime transfers
- Transferring business or agricultural property
- Transferring assets into trust
- Arranging adequate life assurance to cover potential inheritance tax liabilities
As independent advisors with no family involvement or bias, our experience can also help with family business consulting. We can help you understand issues affecting the family business and encourage discussion within the family, finding the most positive way forward.
HMRC tax investigations
Your tax affairs may be checked to make sure that you’re paying the right amount, whether you’re an individual taxpayer or if you run a business. Tax investigations can be stressful if you are going it alone and you are often distracted from focusing on your business. Whether you have been approached for a record check, compliance visit, intervention disclosure, or another aptly-named investigation, our team is here to help.
Our professionals know what HMRC are looking for and we are in dialogue with HMRC officers across London offices. We can often get to the bottom of issues and get cases resolved with minimal disruption to you. Working in cooperation with the client, our approach is to:
- Gain a comprehensive understanding of the tax position relative to both current and historical financial performance
- Prepare a strategy report on the best way to cooperate with HMRC, evidence you will need to produce, mistakes to avoid and records that you do not need to disclose
- Argue your case, represent your rights, draft responses and make sure you are treated fairly
- Provide regular updates on progress and the likely duration of your tax investigation
- Estimate tax due (or tax due back), plus interest and likely penalties early on, so you can budget accordingly
- Always negotiate to reduce any tax liabilities as far as possible, quite often to nil, before then negotiating to ensure you pay penalties at the lower rate
- Prepare submissions and provide representation at tribunal appeals
- Represent you as your accountant during any HMRC visit
The cost of a tax investigation can quickly add up and with the risk of such investigations increasing in recent years, we provide a Fee Protection Scheme to protect you and your business from unexpected costs in defending your case.