As tax advisers, our objective is to work closely with you to ensure you pay the minimum tax required by law.
We will help you to understand the tax implications of your actions, in order that you can plan ahead and conduct your affairs in a tax efficient way.
Corporation tax services
Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We will also calculate your company's tax liability and assist with the calculation of any quarterly instalment payments due.
The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. We will help to minimise corporate tax liability and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your bottom line.
Personal tax services (including sole-traders and partnerships)
We are specialists in Income Tax, Capital Gains Tax and Inheritance Tax.
We have the expertise and software to take the headache out of the form filling and compliance aspect of Self Assessment. We can provide you with practical advice on personal tax and the planning opportunities available to you. Over recent years HMRC have increased the penalties for failing to file a return on time and for errors. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.
Personal tax planning
Everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet the compliance requirements. Our specialist tax team can provide you with year-round advice on all aspects of personal taxation.
- Do you work on board a ship outside of UK waters?
- Do you spend more than half of your time outside of the UK?
- Would you like to reclaim up to 100% of your UK tax paid?
We have a wealth of experience in dealing with seafarers and helping clients reclaim all the PAYE tax they have paid during a qualifying period.
There are special rules for persons employed on board ships but provided a number of conditions are met and detailed records are kept you could qualify for the Seafarers’ Earnings Deduction (SED).
Let us calculate whether you qualify for SED and if a qualifying period has been achieved. We can advise you whether you are entitled to reclaim any of the income tax you have suffered and if so assist you with reclaiming this tax.
Not only are you able to make claims for the current tax year, SED claims can be backdated for up to four years.
UK & Non UK Resident Tax Planning
In today’s global economy many people are choosing to work overseas, whether leaving the UK to work abroad or coming from another country to work in the UK.
HM Revenue & Customs have introduced a Statutory Residence Test which has been designed to give greater certainty as to whether or not individuals are UK resident for tax purposes. However these rules are complex and it is advisable to seek specialist advice.
We can guide you through the Statutory Residence Test rules to establish your UK tax status and to help you reduce your exposure to UK tax by planning dates of departure from and arrival into the UK and calculating allowable days in the UK depending upon your personal ties.
Inheritance Tax and Estate planning
Few of us like to think about dying however the relevant legislation requires us to plan well in advance. This means making the necessary provisions now. There are many tax opportunities available and the earlier arrangements are made, the greater the chance of taking full advantage of the complicated tax system.
It is important when planning to transfer an estate that adequate provision is made and getting the right balance requires considerable skill and foresight – along with a detailed knowledge of the current tax regime. We provide a discreet comprehensive estate planning service that includes:
- advising on potential Inheritance Tax liability
- help with planning and reviewing a will
- making full use of exemptions and lower tax rates on lifetime transfers
- optimising lifetime transfers between family members
- transferring agricultural or business property
- transferring assets into trust
- advising on adequate life assurance to cover potential Inheritance Tax liabilities.
We also have expertise in dealing with trusts; a very tax efficient way to set aside assets for future beneficiaries outside the inheritance tax net. We can advise on the most suitable type of trust to fulfil your wishes, assist in setting up the trust and provide the full range of accounting services required for trust management.
HMRC Investigations and Enquiries
Being the subject of a tax investigation or enquiry by HMRC can be a stressful and worrying experience. We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return, more detailed enquiries into a company’s affairs or employer-related investigations into PAYE and P11d compliance. If you are the subject of an investigation, we can provide expert help and support.
Fee Protection Insurance
With income tax, corporation tax, VAT, PAYE and national insurance all coming under the watchful eye of HM Revenue & Customs, the opportunities for you or your business to become the subject of an investigation are numerous. Once opened, an investigation can run for months, and can involve a significant amount of detailed working time, the fees for which can quickly mount up.
At A9 Bower + Smith Limited, we therefore recommend that our clients take up the fee protection service we offer. The annual cost of this insurance backed scheme is dependent on whether you are an individual or a business and the size of the business concerned and is minimal when compared to the potential fees that it covers – not to mention the peace of mind it affords.