The combined knowledge, expertise and experience of our tax team means that you can be confident that you are receiving the best possible advice when it comes to tax and your business. We work side by side with clients, to ensure that they are fully informed of changes to legislation or opportunities for tax reliefs.
We believe that our specialist tax team, led by dedicated Tax Partner Steve Maggs, is the strongest in-house tax team of any firm based in Cornwall, enabling us to offer a advice on a comprehensive range of compliance and advisory issues, from preparing and submitting tax returns to advising on the most complex corporate structures.
Our tax team can help you to reduce the tax burden on your business and aid in tackling the complexities of the modern tax system.
Personal TaxWe prepare personal self assessment tax returns for many of our clients ranging from retired people with modest means to wealthy individuals with a number of different business and investment interests.
In addition to preparing your personal tax return for you, we can also offer help and advice on minimising your personal tax liabilities and on planning for your future.
Inheritance TaxEven if you have already taken advice about IHT and have the appropriate arrangements in place, if this was done more than two or three years ago it is quite possible that subsequent legislation has meant that the advice and therefore the planning is now out of date. It is wise to review one’s IHT arrangements on a regular basis.
Property TaxWe specialise in property tax and can offer advice on tax for both landlords and property developers, whether individuals, partnerships or corporate entities.
We can offer advice on capital gains tax, capital allowances for commercial property and furnished holiday accommodation, Stamp Duty Land Tax and all other aspects of property tax.
Business TaxWe regard the preparation of your business accounts as an opportunity for a discussion with you on your business’ performance and any areas that need attention, and we are able to offer top quality tax planning advice to ensure that your business is structured correctly and making the most of any available reliefs to retain its profits.
We can also help with the various tax compliance requirements imposed on businesses today, including VAT, PAYE, the Construction Industry Scheme, and the National Minimum Wage.
VATVAT is a particularly complicated area of taxation which contains many pitfalls for unsuspecting taxpayers. However, with careful advice and planning up front, the VAT burden can often be minimised or avoided.
We offer a range of VAT services for businesses and charities, including advising on all aspects of VAT, staff training, registration and deregistration, overseeing land and property transactions and attending HMRC compliance visits.
Fee ProtectionIf you receive notice that HMRC intends to look into any aspect of your financial affairs, the first thing you should do is contact us. We will communicate with HMRC on your behalf and do whatever is necessary to ensure that the outcome is as favourable to you as possible. However, even if the result is that no extra tax is payable, there will be professional costs to pay and, in some cases, these can be substantial. Having fee protection in place acts like insurance and ensures that you are protected from these costs.
Tax ConsultancyOur Tax Team offers tax advice to a number of local firms of accountants and solicitors. We can offer our specialised knowledge and experience to deal with tax matters affecting their clients, whether as part of a full tax planning exercise, or as a quick response to a one-off question on tax.
Solicitors value the opportunity to tap into our expertise on SDLT, capital allowance on buildings, CGT, VAT and IHT, as well as taking our advice on the tax implications of proposed transactions or settlements of disputes. We are often asked to prepare the accounts for estates they are administering.
Accountants may use our services for general tax planning advice, and also to assist with the tax aspects of significant transactions such as buying or selling a business or passing it on to the next generation.
Tax PlanningIt is important to distinguish between the legitimate use of the tax legislation to ensure that the minimum amount of tax is paid, and tax avoidance which seeks to exploit weaknesses or perceived “loopholes” in the legislation in order to bring about a result which HM Revenue & Customs would certainly describe as “abusive”.
Tax planning consists of avoiding pitfalls rather than wriggling through loopholes. There are many situations where the desired objective (business or personal) can be achieved by more than one route, but the amount of tax payable differs widely according to which route is taken. We can guide you onto the best path.