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Tax Planning

Tax is a good thing – our money keeps the country running. But paying too much tax is not a good thing. Every year, UK taxpayers give away several billion pounds more than they need to. In 2015 the figure is expected to be around £4.9 billion.

The government creates many legitimate opportunities for you to reduce the amount you pay in tax. However, you may not be aware of them all, or you may be unsure of how to take advantage of them – or like many people, you may have known but simply not done anything.

Tax is a complex area, and becomes more so if you run a business or have several sources of income. Numerous factors will affect the amount of tax you should pay each year, including your job, savings and personal circumstances. But for many of us, fear of paying too little tax (and the possibly consequences) means we often end up paying too much.

At Brown Butler, we support our clients every step of the way, ensuring a quality driven fully rounded service, enabling you to make own informed decisions and take control of your tax affairs.

We can help you boost your finances with some careful tax planning. This will be an ongoing process rather than a one-off activity, because tax law is complex and never stays still for long. We stay up to date with the latest rules, reliefs and allowances, to ensure that you are not paying any more than you need to.

Business Tax

Craig Hughes

The world of tax is becoming ever more complex but with proper planning and advice tax can be saved when undertaking transactions. Being part of the DFK International association with over 300 offices in 80 countries worldwide, means that we can advise on overseas matters.

We have extensive experience of helping clients in areas such as:-

  • Company reorganisations – dealing with shareholder disputes or splitting a company to maximise reliefs such as entrepreneurs’ relief for capital gains tax and business property relief for inheritance tax
  • Research and Development tax credits – obtaining enhanced tax relief for expenditure on R&D activities
  • Incorporations – moving from a sole trader or partnership to a limited company can confer significant benefits
  • Succession planning – passing your business down to future generations can lead to unwelcome tax issues if proper advice is not sought
  • Overseas expansion – there are many issues to consider when expending overseas such as the structure to be used, funding, profit extraction, local taxes and transfer pricing
  • Patent box – a reduced tax rate (as low as 10%) for profits derived from patents
  • Profit extraction – taking profits from your company in the most efficient way
  • Property transactions – ensuring that tax bills are minimised with pre-sale planning
  • Buying and selling businesses and companies – this may be a once in a lifetime transaction and we can help you through the process, managing your tax position before, during and after the transaction
  • Share schemes – incentivising and retaining key staff
  • Tax efficient operating structures – is your current business structure the right one for you or can your business be operated in a more tax efficient way?
  • Residence and offshore matters – the tax legislation around residence has changed significantly and careful planning is required to steer a way through the complex requirements
  • VAT – particular issues can arise in property transactions and dealing with overseas customers and suppliers

For more information please contact Craig Hughes.

Private client tax

Vicky Hughes

We are used to working with High Net Worth Individuals and entrepreneurs with complex tax positions.

As well as providing a full tax return service we also advise clients on matters such as:-

  • Capital gains tax planning – ensuring reliefs are maximised. Entrepreneurs’ relief is a key relief in this area
  • Making income tax repayment claims – reviewing your tax position and claiming back overpaid tax where appropriate
  • Reviewing transactions for tax efficiency – is there a better way a transaction could be structured and save you some tax? We want to optimise the long term position for your business and personal holdings.
  • Tax incentivised investments such as the Enterprise Investment Scheme and Seed Enterprise Investment Scheme – generous tax breaks are available for investment into qualifying companies but the rules are complex and proper advice needs to be taken
  • Wills and estate planning – your estate could be reduced by up to 40% with inheritance tax charges but with sound, commercial advice this can be reduced significantly We provide advice on tax efficient wills, lifetime giving and your inheritance tax position generally.
  • Your residency status has a significant impact on your tax position but is a complex area of taxation – we can review your residency position and explain how the Statutory Residence Test affects your current tax status and will be impacted by any changes in your personal situation into the future
  • Advice on the consequences of establishing trusts

For more information please contact either Vicky Hughes or Keith Horsley

Tax dispute resolution / Tax investigations / Tax disclosures

Paul Clarke

Quite simply, we resolve tax disputes – be they with HMRC, or between businesses or individuals.

We have acted in many cases, each having their own individual issues:-

  • Enquiries or investigations by HMRC ranging from straightforward points at issue to complicated in-depth enquiries by specialist HMRC departments, including under “COP8” and “COP9”
  • Tax disclosures on an unprompted basis under a range of disclosures facilities or settlement opportunities
  • Handling increasing numbers of Accelerated Payment Notices or Follower Notices cases
  • Preparing and presenting cases at Tax Tribunal
  • Negotiating penalties being charged by HMRC, including dealing with penalty notices
  • Taking cases through Alternative Dispute Resolution (“ADR”)
  • Appearing as an “Expert Witness” in dispute cases

For more information about how our Tax Dispute Resolution Service can help you and your business, contact Paul Clarke.