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Receiving quality, professional tax advice at every stage of the business cycle is critical in terms of both tax compliance and tax planning. Maximising profit retention by minimising your tax liabilities, whilst ensuring that your organisation meets all relevant compliance requirements is key to effective and efficient business performance.
We can help you find the optimum way through the complexities of the tax rules and regulations that impact on your business, through practical, commercially-driven, tailored advice.
Our Chartered Tax Advisers and specialist tax advisory Chartered Accountants work closely with you to understand your needs and aspirations and to help you and your business deliver maximum wealth and profit retention, through tax-effective business structures from early-stage development to advanced-stage succession planning.
Compliance
We take a pro-active approach to corporation tax compliance, keeping you up to date with the increasingly complex legislative requirements of HM Revenue and Customs (HMRC). Our services include:
Planning
We have a dedicated in-house team with many years experience of providing real solutions for companies in the following areas:
Research and Development (“R&D”) tax relief
R&D tax relief is a significantly beneficial tax relief available to any UK company seeking to improve their products or production processes through an advance in science or technology. In our experience, many businesses do not realise the full scope and potential of the relief, and so fail to claim all they could, or even fail to make a claim at all!
We seek to provide an R&D review that adds value to you, rather than just processing numbers. The claim we can produce for you would be in the form of a full report, detailing the methodology behind the claim and explaining the qualifying projects. Our claims are prepared in a format that we know from experience is preferred by HMRC and our excellent working relationships with HMRC result in successful, timely and cost efficient agreement of claims.
Our services range from R&D tax advisory at the inception of projects or support through the Advanced Assurance process, through to the preparation of detailed R&D reports and subsequent negotiations with HMRC.
In particular, we have an excellent reputation with HMRC, and can act as highly credible advocates for you in working with HMRC to agree initial claims, and a subsequent process for future years. Unlike some other consultancies, we combine the deep financial and tax expertise to analyse the rules and help you to apply them to your own situation.
If you are required to complete and submit a self assessment tax return. Our tax team can help you with your responsibility to file such a return and provide advice on opportunities to minimise your tax liabilities.
Compliance
We take a pro-active approach to personal tax compliance, keeping you up to date with the increasingly complex legislative requirements of HM Revenue and Customs (HMRC). Our service includes:
Planning
We have a dedicated in-house team with in depth knowledge and experience of providing real solutions for individuals in the following areas:
The legislation governing VAT is ever changing and complex. We can assist with VAT compliance from preparing the VAT returns on your behalf to providing a comprehensive review of the VAT position of your business.
VAT planning
It is vital that owners of VAT registered entities are completely on top of their VAT position. Entities who are not VAT registered may also need advice as to whether it would be beneficial for them register for VAT or whether they should be registered.
Starting a new business venture, doing something out of the ordinary or even just altering your business slightly could affect the amount of VAT you pay. We can advise you as to how these changes could affect you and the best way to reduce the burden on your business.
We can also provide specialist advice in areas such as:
The prospect of HMRC opening an enquiry into your business or your tax affairs is extremely daunting and disruptive to businesses and personal life.
We have extensive in-house experience in dealing with tax investigations and can assist in dealing with the whole process of the enquiry from the early stages through to conclusion.
We also offer all of our client’s comprehensive fee protection insurance at extremely competitive rates, which provides those who opt to take it peace of mind that fees are covered for the duration of such an enquiry.
Please contact us if you need further advice, have any questions about our services, or would like a free consultation.
Ribchester Smith & Law, Chartered Accountants, is the trading name of Ribchester Smith & Law Limited, registered in England and Wales, Company Reg No: 08657367 Registered Office: Sutherland House, 5-7 The Friars, Newcastle Upon Tyne NE1 5XE. VAT No: 184949354. As a member of the Institute of Chartered Accountants in England and Wales Membership : C003816710, a range of investment business activities provided by us is regulated by the ICAEW.
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