Tax advice tailored to the “lifecycle” of your business.
The tax advice businesses need often vary with the stage in a businesses and proprietor’s lifecycle, such as:
- Initial and ongoing business structure (sole trader, LLP, company etc.)
- Investment funding opportunities such as SEIS and EIS
- Remuneration planning for all stakeholders not just directors
- EMI and other share option/planning arrangements
- R&D tax credits and other business reliefs
- Exit planning i.e Retirement, successions or sale
The tax law regarding treatment of different types of income and what expenses are deductible for tax is complex. As your accountants it is our job to make sure you are able to adopt the tax treatment that you are entitled to, and regularly bring to your attention possibilities for saving tax.
In addition the timing of tax relief can often be delayed, particularly when incurring capital expenditure which HMRC broadly interpret as anything that is likely to have an enduring benefit for the business beyond the period in which the expenditure was incurred. The most common types of expenditure will likely qualify for tax relief in the year incurred due to the annual investment allowance. Expenditure that does not qualify for this allowance or after it has been fully used attract varying rates of tax relief between 0% and 100, or even 150% in the case of remediating contaminated land. We are here to help businesses invest in capital expenditure tax efficiently.
Tax is not black and white, with many areas open to interpretation. We are experienced in understanding the key tax issues that affect SME businesses and how best to ensure compliance within HMRC’s increasingly ruthless enquiry and penalty environment.