Determining your status under the new Statutory Residency Test is crucial for those who work overseas.
We are able to ascertain your correct status and provide you with the necessary implications of your current situation and what factors may change it, in order that you can ensure you do not fall foul of any unwanted tax surprises.
We are able to provide both personal and corporate tax planning advice in order to minimise your tax liability and delay the payment of any liability arising for as long as is possible.
Amongst other things, we can advise on the set up of remuneration packages, salary v dividend comparisons, employee benefits implications and the timing of capital expenditure.
Tax relief on capital expenditure can be very valuable, particularly on the fixtures and fittings included within an existing building owned by a business. However, it is not necessarily easily identifiable what costs are eligible for relief and what are not.
We have the expertise and experience to maximise any potential claims, whether you are in the process of developing a business property or currently own one which you feel may benefit from a historic claim.
Whether it is an enquiry into your personal tax return, a corporation tax return or an employer compliance matter, we are able to provide assistance when it is needed most.
We are able to deal with all matters in respect of any enquiry on your behalf and help to resolve matters as speedily as possible and in your best interests.
In the past few years employer compliance was a key area of investigation by HM Revenue & Customs.
In order to ensure you have no unwanted tax exposure, we can prepare your end of year Forms P11D(b) and P11D and provide advice regarding what expenses and benefit are taxable and which are not.
If required, we can also provide you with the necessary calculations of the tax cost to the employee and the employer, on any benefits provided or being considered, such as company vehicles.
The legislation surrounding the treatments of contractors has now become one of, if not the most looked at sector in UK tax.
Are you aware of the the implications and risks associated with the IR35 legislation and does it apply to you?
What deductions are allowable when trading via a Limited company?
What travel expenses are tax deductible?
As Chartered Tax Advisers, we are best placed to advise you on these key matters.