Tax Advisory Services

With the needs and goals of your wider family in mind, we can advise on the most tax efficient business structure to help minimise exposure to Income Tax and protect the family`s wealth now and in the future, whilst assisting you to achieve growth.

For start-up businesses, a review will be undertaken to ensure that tax relief is secured for all pre-trading costs.

We are able to provide input on how best to pass on your business, whether that is by way of an external sale, an internal acquisition, including by way of an Employee Ownership Trust where no Capital Gains Tax might be payable, having the business itself pay for your exit, or passing the business on to the next generation.

This would include a review to ensure than any available/suitable reliefs, such as Business Assets Disposal Relief, Holdover relief, reinvestment reliefs, Substantial Shareholding Exemption are fully exploited to minimise exposure to Capital Gains Tax.

Planning in this area would focus on tax mitigation in the short and long term by spreading taxable profits amongst the family and being able to capture Capital Gains Tax and LBTT statutory reliefs when passing ownership to future generations.

Where other activities, such as property development/refurbishing for resale are also undertaken, there can also be unexpected VAT benefits to be obtained.

There are a number of areas where planning can help mitigate or eradicate exposure to CGT on the sale, or gifting of non-business assets, such as investment portfolios, second homes or rental properties.

The use of spouses or civil partners in this type of planning can provide additional tax mitigation.

The disposal of a main residence is largely exempt from CGT, but planning can extend a degree of relief to second homes as well.

Planning can also avoid you incurring an unexpected CGT charge on the sale of personal assets such as antiques, artwork and jewellery.

Where all else fails, the reinvestment of sales proceeds into Government approved investment products can defer the payment of CGT, whilst securing Income Tax relief.  The new asset can then potentially be disposed of with no CGT liability, albeit with disposals being realised over a number of tax years.

Planning in this area should also ensure that relief is obtained for historic and future capital losses, including possible Income Tax relief where unrealised assets now stand at negligible Values.

We assist a number of high net-worth families with IHT planning to help with wealth preservation for the current and future generations.

An initial review of your estate, in conjunction with what is included within your Will, can establish the likely extent of your IHT exposure and from there we can agree the best way to mitigate or eradicate that exposure.

Working with specialist associates in this field, qualifying corporate clients can secure up to an additional 130% of qualifying costs to deduct from profits, or claim a tax repayment for loss making companies of up to 14.5% of the surrenderable loss.

Despite its name, a company does not have to employ scientists in white coats to qualify as it covers a broad spectrum of activities.