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Business
Tax Planning

Professional advice for personal and business tax planning support to protect wealth, particularly while running a business is important particularly in the context of tax.

Without proper business tax planning and due care higher tax rates can erode a good amount of business cash flow which otherwise could be used and retained in the business.

Safeguarding the well-being of the family or loved ones after death and ensuring their due share in the deceased estate and wealth as well as income protection is an absolute necessity and requires high-quality inheritance tax planning.

Services of a good tax planning consultant either for tax planning advice, personal tax planning consultations or an inheritance tax specialist who can give proper advice to minimise the current and future tax liability in different tax-related areas make good and proper business sense.

Further, the tax specialist can shed light on the implications and repercussions of not having a Will, Trust, Estate Planning, wealth tax planning and income protection and the benefits of having them.

Unfortunately, business owners and managers are too busy running the day-to-day affairs or operations, that they fail to understand the importance of tax planning. Care Accountancy can offer expert and low-cost business tax planning and affordable solutions to Wills, Trusts and Estate planning and offer the best wealth planning and income protection solutions. Taxes can not only result in huge cash outflows and easily eat into the annual earnings if not carefully planned, understood, and estimated.

Accounting and Tax Services
Business Tax Planning
Retirement Strategies
Business Development
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SOLUTIONS FOR YOUR TAX

Planning tax ahead
A relaxing experience

Business tax planning is a legitimate and the best way of reducing the tax liabilities. The benefits that a good tax payment plan includes greater control over future payments and cash outflows, reduction in tax rates and tax bills, taking advantage of tax credits, using the available tax reliefs and control over payment timings.

The incidence of taxes cannot only be large but also unexpected too, however planning for taxes can enable individuals and businesses to understand the different components of expenses and the exact incidence of taxes.

Different items have different tax treatments as also different tax rates and timings, sometimes embedded sometimes visible. Besides all reliefs, deductions, exemptions, and exclusions that are permissible need to thoroughly be investigated and considered as to which of them can be availed and how. Correct application of the tax rules can result in a reduced or minimal amount of tax liability.

Complication may arise in understanding the tax rules, their application, and their computations. Rules for inheritance tax are different from rules for capital gains. Income tax differ with different types of businesses and incomes, different elements may require following a different methodology for computations.

If a special vehicle such as a Will, Trust, insurance, Income protection, or mortgage protection is considered for use, each of them can have different implications. Besides the ever-changing tax rules and regulations and all of this can make the process of determining the tax liability with accuracy and correctly even more complicated.

The objective of tax planning is to identify opportunities for saving tax for our clients at the same time ensuring tax compliance with the tax rules and regulations. It’s in everyone’s interest to pay tax correctly, to protect themselves and their businesses against any undue or excessive levy of taxes.

At times HMRC may also start investigations against the business either randomly or if it feels the profits or the figures are not correctly reported or may carry out a selective investigation. This investigation takes a lot of time and requires submission of information, explanation, and data to HMRC as per their requirement. This process can become quite lengthy and cumbersome and if not dealt with properly can lead to the imposition of huge penalties and fines.

As with handling of other aspects, Care Accountancy has a team of specialists that manages the tax-related issues with the utmost care and diligence and attaches the highest importance to confidentiality in corporate and personal tax matters. We serve the interest of all our clients equitably whether they are an individual employee, self-employed, a director, an individual, a business or a corporate entity or any other legal person who needs to sort out the tax-related issues.

We can guide businesses about the various conduits available to use, timings, pros and cons, tax computations, implications, how to benefit from claiming the existing rules and available reliefs and allowances.

We can apply our expertise in understanding the business structure, nature of transactions, composition of items subject to tax, understand the amount and extent of reliefs available and computing the extent and amount of tax liability.

As we are experts in understanding the incidence of complex tax rules on the business, so it would pay to get professional help with tax planning and have the tax liability reduced to the minimum. We can also advise on areas where tax benefit is higher or lower which can form the basis of tax planning. In the light of our experience of managing tax-related affairs of businesses and individuals we can advise on:

  • Income tax, capital gains tax, and inheritance tax-related issues
  • Advise the best path to take if considering retirement from business
  • Assist individuals about deduction of tax at source from employment pay.
  • Explore opportunities to reduce tax liability by investing, savings & planning.
  • Preparation and submission of tax return promptly and on time
  • Track due dates so that deadlines are never missed.
  • Represent before HMRC in case of any tax inquiries or investigations.

Tax regulations require a good understanding of the application of tax rules and also tax calculations are complicated as such using a professional accountant’s services, is an absolute necessity. While dealing with tax might seem onerous but using the services of a tax specialist can help take full advantage of allowances and save quite a good amount of money.

Care Accountancy can help in business tax planning and determining different tax liabilities correctly and accurately.

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MORE FOR YOUR TAXES

Your source for trusted
Tax preparation

Strategic business tax planning should be an essential part of every financial plan as it minimises the incidence of applicable taxes and ensures business remains tax efficient.

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Come and visit our offices or simply send us an email anytime you want. We are open to all suggestions from our clients.
Address
94 Street Lane
Rhoundhay
Leeds
LS8 2AL, UK
Address
9 Sheaf Lane
Coventry Road
Birmingham
B23 6EJ, UK
Contact
0113 8870 218
0121 7268 542
[email protected]

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    CareAccountancyOffices
    94 Street Lane, Leeds
    9 Sheaf Lane, Coventry Road, Birmingham
    OUR LOCATIONSWhere to find us
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    GET IN TOUCHCare Accountancy Social Links
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    CareAccountancyOffices
    94 Street Lane, Leeds
    9 Sheaf Lane, Coventry Road, Birmingham
    OUR LOCATIONSWhere to find us
    https://careaccountancy.co.uk/wp-content/uploads/2019/04/img-footer-map.png
    GET IN TOUCHCare Accountancy Social Links
    Taking seamless key performance indicators offline to maximise the long tail.

    Copyright by CareAccountancy. All rights reserved.

    Copyright by CareAccountancy. All rights reserved.