Business tax services is what we do best.
We use our expertise and experience to help businesses solve problems with practical, sometimes complicated, solutions. As well-trained business tax accountants, we help clients avoid problems and develop opportunities because we have seen a lot of similar businesses go through the same thing.
Our team are experienced accountants and tax advisors with energy and are all about getting things done. We don’t wear grey suits here. That’s different.
What kind of things are we talking about?
- We help clients restructure their business in advance of, or as part of an exit.
- We support clients through a sale process or fundraising process.
- We support clients expanding through acquisitions or simply sense check new ideas.
- We put share schemes in place for growing businesses to share the success.
- We advise growing businesses on overseas expansion.
- We help overseas businesses set up and operate UK entities.
- We help structure companies to build or buy commercial properties, or indeed sell commercial properties in a tax efficient way.
- We help shareholders go their separate ways, mostly when it’s amicable but can help when it’s not.
- We do a lot of succession planning, it’s what family-owned businesses need, and we are particularly experienced in farms and estates where keeping it in the family is the name of the game, but we aren’t limited by sectors.
- When it’s time to call it a day we help clients close their business in an orderly and tax efficient way.
And much more!
Tax legislation has become increasingly complex, and a particular transaction can have implications for many different taxes – it’s easy to overlook some of the tax consequences and usually difficult to reverse these once any deal has been done, necessitating a proactive approach.
We work closely with our clients to stay well-versed with your plans. Our approach is a two-way street, and we encourage, indeed rely on, our clients to discuss strategies and the future with us. That way our team can advise you on the various tax implications that may arise from proposed transactions and suggest ways of conducting the transaction to minimise the tax exposure. All while achieving the desired objective.
Our approach to client service always starts with a thorough appraisal of your needs. Once we know what you need, we adapt our service to fit – for some clients we provide a detailed solution to a problem or indeed a variety of problems, running transactions from start to finish. For other clients we offer ad hoc support whenever it’s needed throughout the year, followed by a year-end review as part of the year end compliance process.
It’s all about a plan.
There are many reasons for business reconstructions, and many ways of restructuring. You could be looking to;
- simplify a group structure to reduce your administration costs
- split the business between shareholders
- effect a demerger of two different businesses in advance of a sale or to operate independently.
Our team of expert business tax accountants will be able to advise on the optimal method, considering the tax implications as well as the commercial objectives. Execution is everything and it’s always a team effort.
These transactions are complex with significant tax at stake. We assist with the implementation of a restructuring exercise, from requesting clearances from HMRC where required, to preparing the necessary Company Secretarial documentation, and advising on the correct accounting entries. We will work closely with your legal team and other advisors to get the transaction done in the most efficient way. Additionally, our Corporate Finance team can help with finding investors or buyers for the restructured business.
Our accounting experience with entrepreneurs and family-run businesses means that we are well versed in advising on and implementing tax efficient remuneration policies, for both large and small businesses. We are often asked what the “best” split of salary and dividends is, and the answer, as is so often the case with finances and tax, is “it depends”.
Whilst minimising tax exposures is always a key consideration, we understand that there are often other factors involved, and flexible structures are sometimes needed to accommodate the wishes of all parties involved. We also take a long-term view – what is best now may not work with your future plans for the business and may limit your options for exit planning.
Share Incentive Plans that assist with implementing tax efficient incentive schemes for key employees. Aligning a team’s interests with those of the owners is vital to success. Whether you’re looking to pass your business on to the next generation or grow it for a sale, there are a number of ways employee incentives can be used to help attract and retain the best talent.
Whilst Enterprise Management Incentives (EMI) share option schemes are the most common option, we can also assist with a variety of other schemes including;
- Company Share Option Plans (CSOPs).
- Unapproved share option plans.
- Share Incentive Plans and Save As You Earn Schemes.
- Employee Ownership Trusts.
- Growth Share plans.
- Long Term Incentive Plans.
- Phantom Share Option plans.
It’s not always straightforward to design these schemes, but once we understand your intentions, we will help you decide the best way to achieve these. Often it’s a team effort as these schemes impact current and future shareholder arrangements which is why an open approach to working with our clients wider advisors, lawyers and non-execs is vital. We think differently.
With strict time limits on many tax reliefs, getting compliance wrong can be expensive.
We’re well-versed in the compliance requirements for all business taxes including the usual Corporation Tax and VAT, however we’re also expert in the more unusual taxes that businesses may face such as Annual Tax on Enveloped Dwellings (ATED) and Stamp Duty Land Tax (SDLT). We use this expertise, our knowledge of our clients and comprehensive systems to ensure accurate returns are filed with HMRC on a timely basis.
We have particular experience in group companies and assist many overseas businesses with their UK reporting requirements.
Despite the simplification of taxing Benefits in Kind many businesses still need to prepare P11D’s and PAYE Settlement Agreements annually and we support clients with these processes as well as other employment related matters.
The planning for this starts early and is almost always a personal choice. It’s about realising the value and the capital in the firm you have built up, and now want to enjoy.
Experience tells us entrepreneurs enjoy turning great ideas into reality and building value. Their personal drivers are always different, and, whilst no single approach fits all, we have helped many business owners and their families develop and exit their business.
We understand how to optimise structures to help the business remain flexible, capitalise on opportunities and also retain tax efficient options for a future transaction.
It’s a joined up, full-service approach. As your business advisors we help you grow and shape your business, our Corporate Finance team get transactions done and our Private Client team ensure it works for you and your families in the long term. Our approach is what’s different.
Tax investigations and disputes are increasingly common as the government finds ways to raise funds and, while our corporate tax processes are designed to minimise the risk of enquiries, they can never be eliminated completely.
We support clients responding to HMRC enquiries in all business and employment taxes, typically corporation tax, VAT and PAYE and our approach is resolve these in a timely and efficient manner to minimise costs and tax liabilities.
At a valued added service we encourage and arrange our clients to take up cost effective tax fee protection cover.
We also include a range of helpful tools and calculators to assist you and your corporation tax. You can find our tools guide here for quick assistance or get in touch with our team for further insight into our corporate tax services.