Business Tax

  1. Business
  2. Business Tax

This is the area of our expertise which interests clients the most. At Sowerby, we gear our services to ensure that your business is structured in the most tax effective manner.

 

This is an extremely complex area but our highly qualified team are able to offer a service which is tailored to your business. Our specialists will prepare and submit your annual tax returns, whether that be a corporation tax or a partnership.

 

In order for our partners to provide an effective service, we will review the following areas of your business:

The rate of tax that your business pays depends on its structure, whether it be a limited company and subject to corporation tax or a partnership that pays income tax. Our partners will review your business and advise on the most tax effective structure.

 

It is critical to ensure that all tax possibilities have been considered before we make a recommendation, and we assure you that we undertake a rigorous review in order to offer the best advice.

Most business need to invest to remain efficient, and we work to ensure that any capital costs are tax effective. The different rates and other allowances mean that this is an area that, used effectively, can ensure your tax is mitigated.

 

The timing of the capital expenditure can also be key. We can advise whether to bring forward or defer some of your capital expenditure to keep it tax effective.

 

There are other rates depending on the assets and Sowerby can assist you when considering these.

Most business are constantly looking at ways to improve their products and processes, and this investment can qualify for R&D Tax Credits. Many businesses do not appreciate they are eligible and therefore miss out on a significant amount of tax relief.

 

We work closely with specialist R&D Tax Credit specialists to highlight area of expenditure that qualify and mitigate your tax liabilities.

Many of our clients have products and services which are patentable. However, due to their size, they feel that the costs of applying for, and defending, a patent are too high.

A business cannot grow without employees, therefore ensuring they are rewarded in the most tax effective manner is key to recruiting and retaining the best staff.

 

We have the expertise to assist you in setting up and managing these rewards.

 

This may simply be offering additional benefits that need to be reported to HMRC through the P11d reporting process or a more complicated process of share reward scheme, such as Enterprise Management Incentive (EMI).

Our partners are able to navigate the extremely complex and intricate matter of VAT, ranging from simple compliance to partial exemptions.

 

We can assist you to ensure that you do not fall foul of VAT legislation and pay the correct tax without penalty.

Individuals and business are likely to receive a letter from HMRC advising of an investigation into their tax affairs at some point. In many cases these investigations lead to no additional tax burden on the individual or business – however, they can be time consuming and costly.

 

We are able to assist you through the whole process and ensure that it is run smoothly and cost effectively.

 

We are also able to offer a low-cost insurance to cover the costs of the investigation, see our insurance policy.

Should you require any further information please contact:

Andrew Easton

ade@sowerby-llp.co.uk

Adrian Allen

ama@sowerby-llp.co.uk

Andrea Standring

ans@sowerby-llp.co.uk

Richard Skewis

rds@sowerby-llp.co.uk

Patrick Scargill

pss@sowerby-llp.co.uk

Stewart Scargill

sts@sowerby-llp.co.uk

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