“Never spend your money before you have it,”
Thomas Jefferson, former US President.
What’s on this page?
- Why tax needn’t be taxing
- Corporate and Business Tax
- VAT
- Personal Tax
- Capital Gains Tax
- Inheritance Tax
- HMRC Investigations
- Tax Protection
Why tax needn’t be taxing
We know that when it comes to tax it’s not what you earn that matters – it’s what you keep.
However, increases in reporting obligations, investigation policies on the part of HMRC and harsher penalties for non-compliance alongside the many detailed changes to tax regulations on an annual basis, mean that valuable time and resources can be eaten up with tax administration.
It is our aim to not only hold your hand through the maze of regulations and tax compliance, but to ensure that you optimise your tax position.
At A-spire Business Partners we take our duties as tax advisers very seriously and regularly attend briefings and seminars to ensure that we are up to date on all the major changes to tax legislation and what these will mean for our clients.
Our aim is to assist you to minimise your tax liabilities by prudent tax-planning and taking advantage of reliefs and claims available, but also to submit your returns by the due dates to avoid penalties.
If you would like further information, then please contact us for your free initial consultation. You can phone 020 8864 9626 or send an email enquiry to .
Corporate & Business Tax
Having worked with a wide range of SMEs and owner-managed companies, we understand the need for effective corporate tax planning to try to mitigate tax liabilities and ensure that the money is available to meet payments when they fall due.
Under Corporation Tax Self-Assessment (CTSA), the responsibility for correctly calculating the corporation tax liability falls on business owners. At A-spire Business Partners, we offer a comprehensive corporate and business tax service, which includes:
- Preparing tax returns in a timely and efficient manner.
- Minimising corporation tax.
- Calculating your company’s tax liability.
- Calculating quarterly instalment payments where appropriate.
If you would like further information, then please contact us for your free initial consultation. You can phone 020 8864 9626 or send an email enquiry to .
VAT
Value Added Tax (VAT) is one of the most complex taxes imposed on business and one that many companies inadvertently overpay or underpay. A constant stream of detailed changes to regulations means that compliance can be an administrative nightmare.
To help you manage this area, A-spire Business Partners provides a reliable and cost-effective service to ensure that you comply with filing deadlines and pay no more than the correct amount. We can help with:
- Registration for VAT
- VAT planning and administration
- Advice on the use of VAT schemes such as cash accounting or flat rate scheme
- Completion of VAT returns
- Managing VAT inspections.
If you would like further information, then please contact us for your free initial consultation. You can phone 020 8864 9626 or send an email enquiry to .
Personal Tax
Today, more and more emphasis is being put on taxpayers’ individual responsibilities and it is our view that anyone who is subject to taxation will benefit from professional advice and support.
With the introduction of Self-Assessment for individuals, the onus is on taxpayers to ensure that they calculate and pay the correct amount of tax at the right time, and submit the relevant returns by the due date. This is presently 31 October for paper returns and 31 January if the return is submitted on-line.
We will assist you with the calculation, making sure that you claim any reliefs available, and the on-line filing, as well as reminding you when your tax payments are due. Other areas in which we can help include child tax credits and charitable giving.
If you would like further information, then please contact us for your free initial consultation. You can phone 020 8864 9626 or send an email enquiry to .
Capital Gains Tax
A capital gain arises when certain assets, such as property or shares, are sold at a profit. The chargeable gain is the difference between the net sale proceeds and the purchase price (including acquisition costs).
There have been a number of changes in the CGT regime over the last few years but currently capital gains are taxed at 18%/28% depending on your level of income. There is also Entrepreneurs’ Relief, which may be available on certain business disposals, bringing the CGT rate down to 10 per cent on gains of up to £10 million.
This tax is complex and there are certain reliefs that may be available, so it is advisable to discuss the tax implications before making a sale.
If you would like further information, then please contact us for your free initial consultation. You can phone 020 8864 9626 or send an email enquiry to .
Inheritance Tax
We understand that nobody wants to think about their death, yet Inheritance Tax can be a very emotive subject and people usually want to leave their family as much of their hard-earned wealth as possible.
It is, therefore, advisable to take whatever steps you can to minimise the amount of inheritance tax that will become due after you die. Depending on the complexity of your estate, this may be a simple matter of transferring assets to your spouse or taking advantage of the annual exemption or the exemption for payments out of income.
We can provide estate planning services which include the following:
- Helping to plan or review a will.
- Utilising exemptions and the lower rate of tax on life-time transfers.
- Optimising lifetime transfers between members of the family.
- Transferring business property.
- Using trusts to safeguard assets.
- Advising on life assurance to cover potential inheritance tax liabilities.
If you would like further information, then please contact us for your free initial consultation. You can phone 020 8864 9626 or send an email enquiry to .
HMRC Investigations
As HMRC reduce their manpower, they are increasingly relying on technology and have a very sophisticated range of “tools” to sample, analyse and evaluate submissions made by the taxpayer.
Each successive government has pressured HMRC to increase the tax-take and cut down on tax evasion and blatant tax avoidance schemes. As a result investigations have become more frequent and more aggressive. Should you become subject to a tax investigation, you may find it to be a stressful and time-consuming process.
We have considerable experience in dealing with such investigations, whether they are enquiries into a specific aspect of an individual’s Self-Assessment Tax Return, or a full enquiry, covering all areas, and can provide both support and expert help.
If you would like further information, then please contact us for your free initial consultation. You can phone 020 8864 9626 or send an email enquiry to .
Tax Protection
In the event of your being selected for an investigation, it is likely that this will result in the need for additional accountancy work, which will involve you in further costs. We provide a service, which, for an annual fee, will cover all such additional costs.
If you would like further information, then please contact us for your free initial consultation. You can phone 020 8864 9626 or send an email enquiry to .