Tax issues need well advised and careful planning throughout life for both businesses and individuals. Our dedicated tax team deal with all areas of compliance and strategic taxation matters and can provide a complete business tax planning service on a full range of tax matters.
Business Tax Planning
In order to maximise tax planning opportunities, we can help you to determine the most tax effective structure for your business. We can also assist with the completion of corporation tax returns, review current pay structures and identify tax opportunities specific to your industry. We can also relieve you of the administrative burden of complying with tax legislation.
Corporation tax represents a substantial part of your trading costs. By assessing your individual requirements through careful tax planning, we can offer range of services to help you minimise your corporate tax exposure.
Our tax partneralso has a wealth of knowledge in specialist tax areas, should the need arise.
Our complete VAT compliance package includes preparation and submission of quarterly VAT Returns - allowing you more time to focus on your business goals. We place great importance on establishing and maintaining close contact with our clients and we’ll work with you on a regular basis to review documentation, offer pro-active advice and perform VAT health checks.
If you’re just getting started we can register your business for VAT correctly with HMRC and ensure you’re set up appropriately for VAT in your accounting software package, allowing you to be operating as soon as possible.
Our expert team are on hand to assist with ad hoc VAT queries and can provide advice on dealing with any transactions that are out of the norm for your business, ensuring that you remain compliant with current VAT legislation. We can also help you to select the correct VAT scheme applicable for your business.
Other Business Tax Services
Here at Naylor Wintersgill we believe that as your growing business continues in its success you will benefit from the wider business tax advice, knowledge and experience within this firm. With this, we can also offer the following services in respect of:
Capital Allowances can be claimed on capital expenditure such as commercial vehicles and plant and machinery. It’s important to ensure that the correct capital allowances claim is made on your corporation tax return; whether that be under Annual Investment Allowance or under one of the enhanced capital allowance schemes.
We can help to review this for you and ensure that your capital allowances have been claimed appropriately.
Enhanced Capital Allowances
If you decide to buy a long term asset such as a building, you may be able to claim capital allowances based on this expenditure. This tax relief could be generated from capital expenditure on commercial property including the purchase of old or newly built property, construction of a new build property, building alterations, extensions, refurbishments and fitting out of a let property.
If you’re unsure if you’re eligible to make a claim, our team of experts have experience in successfully guiding our clients in this area and are here to help.
Research and Development Tax Relief
Research and Development (R&D) Relief is a government initiative which allows businesses to claim Tax Credits on any activities they have undertaken to improve growth and develop the business. Tax relief for expenditure on Research and Development has been available now for several years, however, there are still many businesses that haven’t properly considered whether they could qualify for this relief and are missing out.
Businesses that operate in a variety of sectors have made successful claims and in view of the fact that tax relief at effectively 46% could be available, it goes without saying that this is an extremely valuable relief and is a fantastic opportunity to retain some much-needed cash in your business.
Naylor Wintersgill has been very successful in this specialism and we’d be more than happy to help guide you through the process and make the claim on your behalf.
The Patent Box
The Patent Box allows a company to apply for a lower rate of Corporation Tax to profits generated from its patented inventions after 1 April 2013. Whether you’re designing a product with a view to obtaining a patent or already own or exclusively license-in a patent, our team can assess your eligibility to access this lower rate of Corporation Tax and make an election on your behalf.