Business Tax Consultancy
At Geoffrey Collins & Co I aim to help my corporate clients to structure their affairs so as to pay the lowest amount of corporation tax, taking advantage of all the reliefs allowed by tax law.
Here are some examples of the types of advice that I can give:
- Advising on what expenditure is, and what is not, allowable against tax
- Maximising capital allowances claims
- Optimising the use of tax losses including group relief
- Planning for the impact of international transfer pricing rules
- Advising on the tax implications of selling your business, including entrepreneur’s relief
Corporation Tax Returns
For every accounting period, a UK company must file a self-assessment corporation tax return with HMRC. The company must also pay its tax bill by the due date.
My corporation tax service is designed to ensure that my corporate clients meet all their corporation tax reporting obligations well ahead of the due date. I calculate how much tax is due taking into account the various adjustments required by tax law. I check that all available reliefs and allowances have been claimed so as to minimise the overall tax charge.
Using market leading tax software, I make sure that your corporation tax return is correctly completed with all the details and supporting documents required by HMRC.
Once a corporation tax return has been submitted, HMRC may decide to enquire into it. I will correspond with them on my client’s behalf, keeping my client fully informed throughout.
Recognising that tax enquiries can be a considerable burden, I critically review each return before submission to identify any high-risk areas that may need to be addressed. To reduce exposure to significant professional fees necessarily incurred to deal with a tax enquiry, I offer professional fee protection insurance.
Personal and Partnership Tax Returns
My personal and partnership tax return service is designed to assist private clients to file a complete and accurate tax return before the filing deadline.
To collect the information that I need to prepare a client’s tax return, I send an email with a checklist of what I need. Once I have the documents required, I load the necessary data into my tax return preparation software, including trading or lettings accounts, as appropriate.
My tax return software produces a client’s tax return along with a computation of his or her tax liability. I then review the return critically to identify anything that might trigger an HMRC enquiry and make any supplementary disclosures, as necessary. I also review each client’s payments on account position, making claims to reduce, if necessary and warranted.
Once a client has sent me his or her signed authorisation by email, I file the tax return online with HMRC.
If HMRC subsequently enquire into a client’s tax return, I will deal on my client’s behalf directly with them. To reduce exposure to significant professional fees necessarily incurred to deal with a tax enquiry, I offer professional fee protection insurance.
Personal Tax Consultancy
One of my key objectives is to optimise my clients’ tax position, so that they may arrange their tax affairs so as to pay the lowest amount of tax, taking advantage of all the reliefs allowed by tax laws, both in the UK and other countries. I can provide this service by consultation or by written recommendation.
Tax planning is always tailored to the individual circumstances of the individual. Here are some of the areas in which I have given clients advice so as to reduce their overall tax burden:
- Business incorporation including advice on share structure
- Profit extraction strategies from owner managed private companies
- Capital gains tax planning – disposal of shares, second homes and other chargeable assets
- Inheritance tax and estate planning
- International issues such as tax residence and withholding taxes
For new personal tax clients, I offer a personal tax health check. I also automatically give any relevant advice when preparing personal tax returns, and other advice when requested.
Many businesses have problems with VAT at some time or other. In the past we have successfully advised clients on a range of VAT issues including:
- Appeals against VAT penalties
- Exception from registration claims
- Input tax recovery
- VAT and international trade
- Distance selling within the European Union
If you have any of the above problems with VAT, or indeed any other, please get in touch