Specialisms
Property
There are many accounting and tax areas to consider when purchasing property. It is therefore essential that property transactions are structured in a tax-efficient way, to avoid unnecessary exposure to tax, VAT and Stamp Duty Land Tax.
We regularly provide support to our clients and their solicitors at the transaction stage, providing advice on the vital tax and accounting issues.
Throughout the cycle of ownership and sale, we ensure that our clients benefit from the various tax reliefs which are available, including Capital Allowances.
We have many years of experience, advising both commercial and residential property investors. We specialise in planning and advising on structures involving the purchase and joint ownership of property, as well as corporate and personal ownership. Our clients also include property developers and managing agents.
Tax for Non-UK Residents
Non-residents who invest in UK property face various UK tax issues, but also have certain tax opportunities which are not available to residents of the UK.
We advise offshore individuals and companies on the efficient structuring of their UK investments, and assist them with their UK tax compliance and accounting requirements.
Throughout the cycle of real estate ownership and sale, we ensure that our clients benefit from the various tax reliefs which are available, including Capital Allowances.
As a Non-Resident Landlord, your letting agent will usually be required to deduct tax from your rental income, unless you register with HMRC.
We offer a personal and efficient service to assist you with registering under the Non-Resident Landlords Scheme, in order to receive your income without a tax deduction, and we can also prepare and file your UK tax returns.
A non-UK-resident is subject to special reporting obligations on the sale or gift of UK land and buildings, including the disposal of any assets that derive at least 75% of their value from UK property, such as shares in a non-UK company owning UK property.
We can deal with you Non-Resident Capital Gains Tax (NRCGT) report, which must be filed within 60 days of completion.
SDLT
Stamp Duty Land Tax (SDLT) is a complex tax which is often misunderstood.
There can be uncertainty over the definition of residential and non-residential or mixed-use property, the application of the higher rate for additional properties, of Multiple Dwellings Relief (MDR) and of First Time Buyers Relief, in addition to several other valuable reliefs and exemptions.
We advise individuals, companies, charities and their solicitors on the impact of SDLT in respect of specific property transactions and investments, with a view to identifying any of the relevant reliefs or exemptions which could reduce or eliminate the tax.
We can review past transactions and can help by providing a second opinion to determine if too much SDLT was paid. Where appropriate, we can assist with the process of reclaiming overpaid SDLT from HMRC.
Charities
Regulation of charities has become more acute over the last decade or so. The plethora of safeguards and requirements designed by the Charity Commission is enormous and set to increase yet further. This is in addition to best practice recommendations. We can hand-hold you through this minefield and ensure best governance of your charity. This includes auditing, accounting and also consultancy.
Our clients include a range of charities with differing aims and activities, including those with a large investment portfolio, general grant making charities, educational establishments and religious institutions.
Apart from assisting charity trustees to comply with their various regulatory obligations, such as the preparation and filing of accounts and Annual Returns, we also assist with Gift Aid claims and advise on the particular tax and VAT issues for charities, including charity investment. We ensure that our charity clients take advantage of the various tax and VAT reliefs available to charities, such as VAT and SDLT reliefs for property purchases and construction projects.
We have been working with, and advising, the charity sector for many years, and we have successfully negotiated with both the Charity Commission and HMRC on behalf of our charity clients.
If you are looking to set up a charitable body, we have extensive experience in applying for charitable status and advising on the most appropriate and efficient structure to adopt.
Inheritance Tax Planning and Trusts
There are various ways to reduce the exposure of your estate to Inheritance Tax (IHT) and ensure that more of your wealth is passed on to the beneficiaries of your choice.
With sensitivity to your own financial requirements, we can help you to understand the different options available and to make informed decisions about lifetime estate planning, including the use of trusts.
UK VAT for Online Sellers
If you are based in the UK, USA or elsewhere and sell to the UK, for instance on Amazon or eBay, you will usually be required to register for Value Added Tax (VAT), and you may also benefit from being VAT-registered to be eligible for Postponed VAT Accounting (PVA) and to avoid suffering Import VAT in addition to VAT on your sales.
We pride ourselves on our efficient and personal service, which larger providers of VAT services to Amazon sellers often find difficult to imitate.
We have extensive experience in this sector, providing sellers with efficient and reasonably-priced services, including VAT registration, obtaining an EORI number for importing into the UK and filing VAT returns.
We can act as your UK VAT Agent to deal with all aspects of compliance, and can also assist you with HMRC VAT compliance checks.
If your Amazon seller account has been suspended due to a HMRC notice, we can help you to resolve the VAT issues.
Through our ties with firms around Europe, we can also help you to deal with VAT in the European Union (EU).
Business Start-ups
We advise on the most appropriate and efficient structure for your circumstances, whether to operate as a sole trader, partnership, limited company or an LLP. This choice can be very important in the early stages of a new business and can affect your entitlement to state benefits while your business is growing.
We assist with a range of services, including compiling your business plan, cashflow projections and registration of your business with HMRC and other relevant authorities. Our aim is to enable you to concentrate on growing your business.