Corporation tax is a major part of your trading costs. It is the increased reporting obligations, thorough investigation policies imposed by the tax authorities and tough penalties for non-compliance that means that a lot of time and resource is taken up collecting revenue for the Government.
We can assist you and your business by completing and filing business tax returns as well as preparing and submitting end-of-year payroll Tax Returns. By using us for your corporate tax and planning, means we can act as intermediaries for any disputes with the tax authorities.
As part of this service, we can help you with determining the most tax effective structure for your business by taking full advantage of tax opportunities and reliefs. It is our job to make sure that you achieve the best capital or revenue tax treatment as well as reducing your tax on disposals and maximising relief on acquisitions. There are also many tax opportunities specific to certain industries and our in-house expertise is available to help you tackle these.
Get in touch now on 0330 053 7042 to arrange a free no obligation meeting with us.
R&D tax credits
Research and Development (R&D) tax credits were introduced for small and medium sized enterprises (SMEs) in 2000 and for large companies in 2002. R&D credits are a generous Corporation Tax relief which were introduced to encourage innovation and enterprise within the UK economy. Some 15,000 businesses across the spectrum claim over £1.4 billion in credits each year. The use of R&D tax relief can create a potentially valuable source of funding for businesses across a wide range of sectors including manufacturing, construction and technology.
We at Tax 4 Today can help you ensure that you claim tax relief on all eligible expenditure. We have found that many of our clients are surprised how easy it is to qualify for R&D tax credits. In fact, HMRC recently published a consultation specifically targeted at ensuring that small businesses are aware of the opportunities available to them.
The rules as to what qualifies in this regard are complex. In general, a project qualifies as R&D if:
- It seeks to achieve an advance in science or technology
- The research is relevant to the business
- The business is of a trading nature as distinct from someone working in a profession or vocation
We can help you ascertain whether your expenditure on scientific or technological work is eligible for the relief.
We would be happy to have a meeting with you and carry out an initial review as to your eligibility for tax relief. We would recommend discussing these issues with us at the earliest possible opportunity so that we can ensure maximum tax recovery.
Few of us like to think about dying, but equally few of us could live with the thought that we have not made adequate provision for family and friends who survive us.
The legislation that governs passing on your estate to your chosen beneficiaries requires you to plan well in advance. Since none of us knows when we shall die, this means making the necessary provisions now.
The earlier you make the arrangements, the greater your chance of taking full advantage of the tax opportunities available and thereby maximising the amount that goes to your beneficiaries. Nothing is more demoralising than the thought that a substantial slice of the wealth you have worked hard to accumulate will end up in the Government's coffers!
It is equally important when planning to transfer your estate that you make adequate provision for yourself and your spouse in your later years. Striking this balance calls for considerable skill and foresight - and a detailed knowledge of the tax regime.
We provide a discreet estate planning service that includes:
- help with drawing up and reviewing your will
- making full use of exemptions and lower tax rates on lifetime transfers
- optimising lifetime transfers between spouses
- transferring agricultural or business property
- transferring assets into trust
- arranging adequate life assurance to cover potential inheritance tax liabilities.
We strongly advise you to begin your estate planning right away. Get in touch now 0330 053 7042 to arrange a free no obligation meeting with us.