Taxation

The T word! We all dread it and we all try and run from it.

We explain Tax to you in simple terms, we look after your affairs with integrity and ensure we can deliver solutions that maximise your profits and LEGALLY ensure you mitigate tax where possible and feasible.

Putting your tax affairs in the right hands

Integrity. Quality. Reliability. These three words are at the heart of our approach at Financial Angels . You'll receive quality services that required to complement your fantastic business and we will ensure that you stay on top of your compliance at all times.

Whether you're an individual, small business, entrepreneur or multinational corporation, you'll receive the most effective tax solutions to support your goals.

Our Tax Services include:

Personal tax compliance for: Individuals, Sole Traders, and Partnerships

Today, more and more emphasis is being put on taxpayers' individual responsibilities and everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet the compliance requirements. Our specialist tax team can provide you with year-round advice on all aspects of personal taxation.

We have the expertise and software to take the headache out of the form filling and compliance aspect of Self Assessment. We can provide you with practical advice on personal tax positions and the planning opportunities available to you. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.

Corporate Tax Services

Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We will also calculate your company's tax liability and assist with the calculation of any quarterly instalment payments.

The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your bottom line.

Tax Planning for Private clients

We can help you develop a cohesive management and succession strategy for your privately held wealth enabling you to:

  • Protect your wealth by understanding and taking control of your financial affairs, especially with regard to current and future tax exposure, especially inheritance tax.
  • Benefit from better-informed decision making, because you fully understand the issues that affect you or might affect you in future.
  • Create an informed plan that makes the best use of your wealth for yourself, your retirement and for future generations.
  • Avoid the threat of future tax demands, by knowing that your financial affairs are proactively managed and you’re paying the correct amount of tax.
  • Many people lose wealth from threats they never anticipated, so we will challenge your existing planning assumptions and encourage you to consider contingency plans to avoid possible future liabilities.

Inheritance Tax Planning

Few of us like to think about dying, however the relevant legislation requires us to plan well in advance. This means making the necessary provisions now. There are many tax opportunities available and the earlier arrangements are made, the greater the chance of taking full advantage of our complicated tax system.

It is important when planning to transfer an estate that adequate provision is made and getting the right balance requires considerable skill and foresight - along with a detailed knowledge of the current tax regime. We provide a discreet comprehensive estate planning service that includes:

  • help with planning and reviewing a will
  • making full use of exemptions and lower tax rates on lifetime transfers
  • optimising lifetime transfers between family members
  • transferring agricultural or business property
  • transferring assets into trust
  • arranging adequate life assurance to cover potential inheritance tax liabilities.

We also have expertise in dealing with trusts; a relatively easy and very tax efficient way to set aside assets for future beneficiaries outside the inheritance tax net. We can advise on the most suitable type of trust to fulfil your wishes, assist in setting up the trust and provide the full range of accounting services required for trust management.

Capital Gains Tax Planning

We can proactively assist in any CGT planning area and can help with:

  • calculation of potential capital gains tax, payable as a consequence of a disposal.
  • Advice on the structuring of acquisitions, to ensure they are efficient from a capital gains tax perspective.
  • Advising on the timing of disposals.
  • Advising on the availability of entrepreneur’s relief, in respect of the disposal of business assets.
  • Advice on the potential gifting of assets and availability of reliefs.
  • Guiding on the availability of Principal Private Residence Relief.
  • Advice in connection with the deferral of capital gains tax, by investing in tax-efficient investments.

VAT

Ever changing regulations and the growing demands of HMRC mean VAT compliance can be a difficult administrative process. We can help to ensure that you comply with the regulations and that overpayments are not made. To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes:

  • assistance with VAT registration
  • advice on VAT planning and administration
  • use of the most appropriate scheme
  • VAT control and reconciliation
  • help with completing VAT returns
  • planning to minimise future problems with HMRC
  • negotiating with HMRC in disputes and representing you at VAT tribunals (if necessary)

HMRC Investigations

Being the subject of a tax investigation by the HMRC can be a stressful and worrying experience. With the onset of personal and corporate self-assessment, Revenue staff can now review cases on a 'sample basis'; consequently, tax investigations have become more frequent.

We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual's Tax Return under the Self Assessment regime, more detailed enquiries or employer-related investigations into PAYE and P11d compliance. If you are about to be the subject of an investigation, we can provide expert help and support.

Tax protection

With the increased risk of such investigations it may be worth considering taking out an annual insurance policy to protect you and your business from unexpected costs; an investigation will undoubtedly result in additional accountancy work being undertaken. The amount of work will depend upon the complexity of the case but the cost could be substantial.

Require more information?

If you would like more information or would like to speak to us direct then call us on 020 7328 8294. Or if you would prefer, ask us a question online.


Preventing the facilitation of tax evasion

Financial Angels recognises UK or foreign tax evasion, and its facilitation, are serious criminal offences. We have a policy of zero tolerance towards tax evasion and its facilitation in line with the firm’s code of conduct and ethics. Our people, and those who provide services on our behalf, are required not to do anything which criminally facilitates tax evasion. Those providing services on our behalf should also comply, as appropriate, with the expectations outlined in our policy.

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