Our Tax services
Tax
Tax and lessening liabilities for our clients is one of the top priorities for Jones & Partners! Our aim is to always offer the best Tax services to clients.
Friendly and transparent advice service about Tax our clients trust!
Tax services
Corporation tax represents a substantial part of your trading costs. Moreover, the increased reporting obligations, robust investigation policies on the part of the tax authorities, and harsher penalties for non-compliance mean that an unproportionate amount of your time and resources can be taken up collecting revenue for the Government.
We offer a range of tax services to help you minimise your corporate tax exposure and relieve you of the administrative burden of complying with tax legislation. These include:
- Determining the most tax-effective structure for your business
- Taking full advantage of tax opportunities and reliefs
- Achieving the optimum capital or revenue tax treatment
- Reducing tax on disposals and maximising relief on acquisitions
- Making the most of tax opportunities specific to your industry
- Meeting the rigorous demands of compliance including corporation tax self assessment
- Acting on your behalf in discussions with the tax authorities
Corporation tax, like many other taxes in the UK, is a complex subject area, so engaging a professional tax advisor who can help you plan to minimise tax liability relieves the stress and is a definite time saver. Get in contact to discuss your requirements.
Capital Gains Tax, put simply, is normally liable when you sell or dispose of something that has gone up in value. However, it is the gain that you made that is taxed, not the amount of money received for the item.
You do not have to pay Capital Gains Tax if all your gains in a year are under your tax-free allowance and it is also worth remembering that some assets are tax-free.
On its website, the UK Government defines disposing of an asset as follows:
- selling it
- giving it away as a gift, or transferring it to someone else
- swapping it for something else
- getting compensation for it – like an insurance payout if it’s been lost or destroyed
Both individuals and businesses can be liable for CGT; individuals from the disposal of personal possessions, and businesses when all or part of a business or business assets is sold.
CGT is a complex area of taxation and generally relates to any chargeable gains made on the sale of items such as property or shares. So it is worth seeking professional advice, and that is something we can offer an abundance of!
We have years of experience helping and advising our clients about Capital Gains Tax, so if you have any queries about CGT, get in contact about our Tax services!
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A Tax Investigation is an official enquiry into your tax payment history. In the UK, Tax Investigations are conducted by HM Revenue and Customs (HMRC).
Why am I chosen for a Tax investigation?
Some tax investigations are random but in most cases, a Tax Investigation is activated when HMRC thinks there is something wrong! It is therefore important to complete your tax returns and file them correctly and on time! Why would you give them any cause for concern and invite your tax affairs to be investigated?
A Tax investigation can be a daunting experience! They can be complex and time-consuming and can happen at any time! If HMRC selects you and you receive a letter, you should seek advice if you are not totally sure of your tax position!
You may want to consider taking out insurance to help cover you against the costs of a tax audit or investigation.
Contact Jones and Partners today if you need any advice about a tax investigation or want to enquire about our Tax investigation insurance cover.
Research and Development ( R&D ) tax credits support companies that work on innovative projects in science and technology.
What work qualifies for R&D Tax relief?
Your research work must be part of a project that advances science or technology.
Claims cannot be made if it is in:
- the arts
- humanities
- social sciences/economics
In general terms, there are 2 different types of R & D Tax relief.
Small and medium-sized enterprise (SME) R&D tax relief:
You can claim SME R&D tax relief if you’re a SME with both of the following:
- less than 500 staff
- a turnover of under 100 million euros or a balance sheet total under 86 million euros
R&D expenditure credit (RDEC)
Large companies can claim expenditure credit for working on R&D projects.
It can also be claimed by SMEs who have been subcontracted to do R&D work by a large company.
Can your business claim Corporation Tax relief on its Research and Development (R&D) project?
The simple answer is yes, however from our experience, for the majority of business owners, the subject of R & D Tax credits is an extremely complex and specialist tax area – so it is definitely worth seeking professional R & D tax credit advice.
Contact us today and talk with us about our Tax services.
SEIS and EIS and both examples of Enterprise Investment schemes. The schemes can help raise funds for your business by offering tax reliefs to individuals. Investors in most of these types of schemes generally require the company to have Advance Assurance from HMRC before investing.
SEIS and EIS
The Enterprise Investment Scheme (EIS) and/or Seed Enterprise Investment Scheme (SEIS) schemes offer a fantastic way for you to attract investment. By registering, you will increase the pool of available investors.
Both schemes also have qualifying criteria, and you must meet these requirements before applying for formal approval from HMRC to issue shares under either scheme.
Jones & Partners in London offer Tax services and have specialist experience in both the ‘Enterprise Investment’ and ‘Seed Enterprise Investment’ schemes. We can guide you through the compliance process and help you obtain approval for your chosen scheme.
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