TAX PLANNING AND ADVICE
General Taxation service
We provide a full range of tax advice, whatever your status may be.
● Self - Employed
● Company Director
● IR35 Contractors
Are you familiar with 7 years rule for non-domicile?
We offer a range of services to help you minimize your corporate tax exposure and relieve you of the administrative burden of complying with tax legislation. These include:
●Determining the most tax effective structure for your business
● Achieving the optimum capital or revenue tax treatment by taking full advantage of tax reliefs
● Meeting the rigorous demands of compliance including corporation tax self assessment and acting on your behalf in discussions with the HMRC
● Efficient corporate tax planning
We provide services for Partnerships and LLP including:
●Drafting partnership agreements
● Filing a Partnership Return - SA800 - showing each partner's share of the profits or losses
● Preparing Partnership accounts
●We provide a service designed to minimize your liability ensuring your tax returns are fully compliant with current legislation on self-employment, Capital Gain Tax (CGT), Property, Lloyd’s underwriters, Residence etc.
● We advise on what expenses are allowable for tax purposes and, if you operate a business, how to ensure adequate records are maintained
● We submit tax returns electronically eliminating any Inland Revenue errors and speed up repayments to you where due
● We can act as your agent, dealing directly with the Inland Revenue on your behalf and, should you be selected for a self-assessment enquiry, act for you at any meetings
Domicile is a general law concept that has been adopted by tax law. Broadly speaking you are domiciled in the country where you have your permanent home. You can only have one domicile at any given time.
7 years Rule
Non Domiciled residents who have been in the UK for 7 out of the past 9 years have to decide whether to be taxed on their worldwide income or continue to benefit from the ‘remittance tax basis’ relief but at the cost of an annual tax levy of £30,000 known as the Remittance Basis Charge (RBC).
An individual resident not domiciled in the UK is currently entitled to claim that their non-UK investment income is taxable here only on the remittance basis. The non-UK ‘earned’ income and capital gains of such individuals are automatically taxed on the remittance basis
If the trustees, settler and beneficiaries of the trust are resident somewhere other than the jurisdiction in which the trust is held, then often the trust will be subject to little or no taxation.We will provide information you need for the simple formation of a tax-efficient onshore or offshore trust, or to establish and run sophisticated tax-saving, inheritance or asset protection structures