Specialist Tax Support
Specialist Tax Support We Provide
Tax advice has many facets.
The standard services
The standard services we provide to most companies are:
- Filing the annual Corporation tax return for the company
- Advising on which expenses are allowed/ disallowed for tax
- Advising on expenses that receive special treatment
- Tax planning for the shareholders/directors, and filing their tax returns
R&D Tax Credits
- We have been filing R&D Tax Credit claims on behalf of clients for many years and have a very good understanding of what HMRC is looking for.
- As a result, we have tailored our approach to making claims that give clients the highest probability of success without it costing you the earth.
- We will always quote based on time spent and advise where we believe the risks to be.
Enterprise Investment Scheme (“EIS”) and Seed EIS (“SEIS”) support
- The schemes provide tax incentives for investors who invest in start-ups and early-stage small companies.
- We have been supporting clients for many years and have an excellent understanding of what HMRC is looking for
- Filing an application for advanced assurance with HMRC provides potential investors with the reassurance they are looking for that they will get tax relief once the company is registered. We will support you through the process of getting assurance from HMRC as quickly and with as little fuss as possible.
- Once you are up and running (HMRC requires 4 months from the commencement of trade), your investors will be able to claim tax relief. We will complete the necessary the EIS1/SEIS1 forms to register the EIS/SEIS scheme with HMRC and provide it with the details of the investors and the amounts that have been invested.
- Once HMRC has reviewed and approved the EIS1/SEIS1 forms (which must be completed and filed each time you raise money), it will issue blank EIS3/SEIS3 forms to you to provide to your investors as evidence to support their reclaim of income tax. We will complete and send the forms to investors.
- We provide ongoing advice and support. Both schemes have detailed rules that need to be complied with over a period of at least 3 years from the date of investment. If the rules are not complied with at any time, investors can lose the tax relief.
Share Option Schemes approved by HMRC
- There are several schemes approved by HMRC that allow share options to be granted to employees in such a way that the gain in value of the underlying share is assessable under Capital Gains tax rules (as opposed to unapproved schemes where the issue of shares and subsequent gains are taxed as income). As things stand today, this means a substantial saving in tax for the employee.
- The most popular scheme is the Enterprise Management Incentive scheme, which allows for up to 30% of the company’s shares to be offered as part of incentive packages to key employees.
- We will advise business owners of the benefits and costs of running such a scheme and the options that are available.
Groups and other corporate tax planning matters
For larger companies with more complicated affairs and groups of companies, we will support you as required,