Whether you are a multi-million pound enterprise or a start-up we can advise you on the best approach to ensure you are tax compliant, and tax efficient.
& Ince, in any case
We believe maintaining your company in good order is a key compliance requirement. We provide high quality bespoke advice on the tax implications of different structuring options, such as sole trader, partnership, limited company or limited liability partnership. We can advice on the tax reliefs available to your business, such as the enterprise investment scheme and the seed enterprise investment scheme.
We look into how various taxes impact on your company and how to mitigate them, along with an exit strategy, if you are passing your company to family members, and personal and estate planning issues for key individuals, including tax efficient exit strategies and profit extraction.
We also have a strong tax litigation and compliance practice in which we have taken a number of tax cases against HMRC, including a recent victory in the supreme court.
Through our consulting arm, we can also provide a complete suite of tax and payroll services including:
- Complete payroll administration service – from registration to operation;
- Real time information submissions;
- Employee share schemes and tax efficient benefits;
- Salary sacrifice arrangements;
- PAYE settlement agreements;
- Employee expenses policies;
- VAT registration including MTD (“Making Tax Digital”);
- VAT returns;
- Corporation tax registration and PAYE registration;
- Corporation tax returns;
- Management accounts;
- Personal tax registration and completion of return;
- Payroll for up to 10 - more than 25 employees;
- Trust tax returns;
- Annual Tax Envelope Dwellings (ATED) returns; and
- 30 day Capital Gains Tax (CGT) returns.
News & insights on Tax
Events / Webinar: Addressing the legal and tax issues for employers for hybrid and remote working
Homeworking and hybrid working have become 'the norm' following the pandemic. However, there are many legal and tax issues for employers to consider, as we move from working from home requirements during the pandemic, to choosing or being asked to work remotely, even for part of the week. This webinar addresses these issues and we are delighted to co-host it with Bath-based chartered accountants and tax advisors, Richardson Swift.
Insights / Proposed changes to Stamp Duty Land Tax Rules in England
HMRC are currently consulting on potential changes to the Stamp Duty Land Tax (SDLT) rules for mixed use property purchases and Multiple Dwellings Relief. If introduced these changes will have important tax consequences for future property purchases.
News / Changes to probate application process and submission of inheritance tax accounts for deaths on or after 1 January 2022
On 1 January 2022, The Inheritance Tax (Delivery of Accounts) (Excepted Estates) (Amendment) Regulations 2021 came into effect. They extended the 2004 Regulations so that the majority of non-taxpaying estates are no longer required to complete IHT forms in cases where a grant is required. The new Regulations serve to minimise the administrative burdens imposed on those dealing with IHT by reducing the reporting requirements for excepted estates and limiting the circumstances in which full inheritance tax accounts must be delivered to HMRC. The new Regulations, however, will only apply to estates or deaths that occur on or after 1 January 2022.
News / New sweeping blanket requirement to register nearly all UK connected trusts under Fifth Anti-Money Laundering Directive
Whilst the Fifth EU Anti-Money Laundering Directive (5MLD) came into force on 6 October 2020 with little fanfare, the impact it will have on trusts with a UK connection could well be dramatic. In essence, the 5MLD implements a number of strict anti-money laundering requirements; a number of which have now been extended to nearly all trusts including non-taxpaying trusts, which to date were exempted from such reporting.
Insights / Freeports: how do they benefit businesses in the UK?
23-04-2021 / Maritime
In the 2021 Spring Budget, Rishi Sunak announced the creation of eight Freeports in England. These Freeports offer potential incentives for businesses located in such zones to benefit from tax breaks, the ability to import and export goods free of tariffs and reduced administrative burdens. They may also provide opportunities for businesses supporting these activities, including shipping companies, construction companies and service providers.
News / Your future in the UK post-Brexit and post-Covid 19: what you need to know
08-04-2021 / Real Estate
Over the last twelve months, the United Kingdom (UK) like the rest of the world, has seen the COVID -19 pandemic impact hugely on our ability to travel freely, to relocate for business, work, investment and education. We now see some light at the end of the tunnel with the UK’s mass immunisation programme which has seen infection (and thankfully) mortality levels fall dramatically. This is finally giving people hope for the future, resulting in renewed interest in the UK as a safe place to live, to invest in, and as somewhere to educate their children.
Insights / Domicile and issues of taxation
Taxation is complicated at the best of times but for many people in the shipping industry who often work in a country other than the one where they were born or grew up, there are invariably added cross border complications.
Insights / Stamp Duty Land Tax – Temporary Relief
In the UK, Chancellor Rishi Sunak last week announced a raft of stimulus measures aimed at rebooting the UK economy following the coronavirus pandemic.
Insights / Domicile remittance basis
This article looks at the practical issues arising from the remittance basis. The remittance basis is an alternative tax treatment that's available to individuals who are resident but not domiciled or treated as domiciled in the UK and have foreign income and gains.
Insights / Ince Brexit Q&A Series
The UK’s decision to leave the European Union continues to create a complex and unprecedented level of uncertainty in the UK, the EU and beyond. It brings significant regulatory, financial and operational implications to individuals and businesses of all sizes.
Insights / Brexit Q&A: Tax
In this Brexit Q&A Huw Witty provides details surrounding the topic of Tax. This includes borrowing costs, anti-avoidance rules and whether there will be a tax upside from Brexit.
Blogs / A nasty surprise for off plan buyers
In the recent case of HMRC v Higgins (2018 UKUT 280) the Upper Tax Tribunal ruled that “off plan” property purchasers will not be able to claim the traditional relief from capital gains tax (CGT) for the period prior to them moving into their new properties.
Blogs / Requirement to Correct: HMRC’s new 200% tax penalty regime
From 30 September 2018, HMRC will introduce a new, more severe penalty regime that will apply to any unpaid UK tax connected to non-UK (otherwise known as ‘offshore’) assets. At its starting point, this new regime imposes financial penalties of 200% on any such unpaid tax, and the rules require a minimum of 100% to be levied, irrespective of taxpayer co-operation.
Blogs / The inheritance tax issues facing foreign nationals owning UK property
The UK has historically been, and indeed remains, an attractive proposition for foreign nationals to live, work and invest their money In past years a buoyant property market has led to large numbers of foreign nationals acquiring UK assets, often UK residential property, as an investment Recent falls in the value of sterling following the Brexit vote have only increased the attractiveness of such investments However, such investors should always consider carefully the UK tax implications and succession issues that may arise from holding and later disposing of such an asset, or dying whilst still owning a UK property
News / Multilateral approach
Huw Witty's article was first published by Taxation Magazine on 21 September 2017A multilateral convention to combat tax avoidance must be good news, mustn't it Huw Witty considers its advantages and disadvantages
News / Buy to Let – Under Siege & The Race to Incorporate
Whilst this may be one opinion, private landlords can certainly be forgiven for thinking it is a view held by George Osborne following his recent tax increases for the buy to let sector. The increase to Stamp Duty Land Tax (SDLT), coupled with restrictions on tax relief for finance charges and the removal of the wear and tear allowance will certainly leave many private landlords feeling under siege.
News / SDLT changes 2016 – stamping out investment?
On 28 December 2015 HMRC issued a consultation document concerning the 3% extra stamp duty payable on “additional residential properties”, announced in the Autumn Statement and Spending Review, which has provided some guidance as to how the new rules may operate.
News / HMRC Consultation – Direct Recovery of Debts
On 6 May 2014 HMRC opened consultation regarding their request for powers to access the bank accounts of taxpayers with tax debts exceeding £1,000. The closing date for comment is 29 July 2014. Responses to the consultation will be published in autumn 2014 and draft legislation released for further consultation in the 2014 autumn statement. New legislation is expected to be introduced as part of the 2015 Finance Bill.
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