Tax
Tax can be a substantial cost to profitable businesses and individuals. Not only the tax itself but also the costs of complying with reporting obligations, dealing with tax enquiries and penalties for non-compliance.
We can help by advising you on how to minimise your tax liabilities and relieving you of the administrative burdens.
We can help by advising you on how to minimise your tax liabilities and relieving you of the administrative burdens.
Income Tax & national insurance
We can prepare your annual Self Assessment Tax Return and calculate liabilities to income tax and national insurance. We will advise you, in good time, of the due dates for payment and we will advise on opportunities for savings, from claiming additional allowances / credits to restructuring your affairs in a more tax efficient manner.
CORPORATION TAX
To comply with your corporation tax obligations we will prepare the company tax computation and tax return, submit these with your accounts to the HM Revenue & Customs and forewarn you of corporation tax liabilities due. We will discuss with you your company's tax position shortly before the accounting year end to advise you of any tax saving measures that can be put in place..
international tax planning
We are experts in advising non-UK domiciled individuals in all areas of taxation on coming to, residing in and leaving the UK. We also advise those who have lived in the UK all their lives who suddenly find themselves with an opportunity to work outside the UK. We can give you the basics of the tax system in the country you are travelling to, keep your UK tax affairs in order while you are away and make contact with associates in your destination country who can advise you on the local position.
new business
If you are starting out in business we can help you ensure that all of the initial registration requirements are met and help you to plan for future liabilities by explaining the tax system in plain language. We can provide you with a report on all of the tax consequences for any particular transactions you are considering with suggestions for mitigating liabilities.
hmrc enquiries
Enquiries into your tax affairs by HMRC can be a very intimidating experience. Their random enquiries are generated by computer so they may investigate without even a suspicion of anything being wrong, but none of this eases the stress. We will handle correspondence with the HMRC, keeping you informed at all stages, and negotiating on your behalf so as to minimise the disruption to you.
tAX STRATEGIES
From time to time opportunities exist to mitigate large amounts of Income and/or Capital Gains Tax. At Ashgates we are experienced in reviewing these tax mitigation strategies and can advise on their appropriateness and implementation.
CAPITAL GAINS TAX
Whether you are selling shares, property or other assets we can explain how capital gains tax works, calculate the liability and advise you of any reliefs available to reduce the bill.
INHERITANCE TAX
We are able to combine our knowledge of Inheritance Tax with our Will-writing service to give you estate planning advice to protect your family.
vat
We can assist in the preparation of VAT returns, advise on the rules and assist with VAT visits and the response to queries. We will advise on elections such as option to tax, use of specific schemes and assist with any other VAT matters.
stamp duty
Stamp duty applies to certain transactions in shares, while transactions in property are now subject to Stamp Duty Land Tax. If you have a transaction in mind (whether a sale, purchase, gift or company restructuring) we can advise you of the tax due, the reporting requirements and offer advice on how to keep the tax charge as low as possible.
For a free initial consultation call 01332 380691