Business & Corporate Tax

HMRC investigations are costly in time and in the emotions they evoke and distract from effectively running your business.

We offer a Tax Investigation Service for you and your business at a fixed annual cost. The cover includes full books and records enquiries along with VAT and PAYE disputes. It also extends to a company’s directors’ personal tax returns where we prepare those returns.

IR35 is expected to be an area of increased HMRC focus going forward. We can help mitigate the risk of a successful challenge by HMRC.

Legislation commonly known as IR35 exists to target disguised employment through personal service companies.  HMRC perceives false self-employment to be an area of widespread abuse and IR35 is expected to be an area of increased HMRC focus.

Residential property owned by a Limited company has become much more tax onerous.

There is an annual charge levied on companies owning residential properties over £500,000. There is however an exemption from the charge for properties let out on a commercial basis.

The government wants to encourage businesses to invest, and advocates the use of the Annual Investment Allowance (AIA).

The AIA allows a business to write off most capital expenditure (except land, buildings &and cars), up to the limit against taxable profits for the year of purchase. If your business is planning to make significant investment in the near future, then now is the opportune time to do so.

If you own a commercial property and did not claim any capital allowances or improvement expenditure, you could be entitled to claim tax relief or a tax refund.

Capital allowances are a valuable form of tax relief available to anyone owning or improving investment property. The allowances apply to large or small, offices or shops, warehouses or factories. If you own the property through a Limited Company then you will save on your corporation tax bills next year and it is possible that we can also achieve a generous tax rebate for you.

The range of businesses which can qualify for this relief is much broader than you might realise. We have advised businesses in bespoke manufacturing, process automation and software development to name a few.

If a company has developed technologies, software, processes or manufacturing techniques which its competitors do not, it is worth exploring whether an R&D claim might be possible. Relief is available to companies excluding sole traders, partnerships and LLPs.