Taxation, whether for yourself or your business, can be a time-consuming and tedious process, with little room for error. At Edwards Accountants, our advice covers unincorporated businesses, such as sole traders and partnerships, as well as companies, private clients and UK and offshore private trusts.
From personal and corporate tax returns to PAYE compliance, health checks, and P11D compliance, outsourcing these tasks to experienced tax professionals can help save you time, money and reduce the risk of mistakes.
Though we give our tax advice from the midlands, our services are available across the UK, meaning that you can benefit from the help of experts no matter where you’re based.
Why do I need to outsource specialist taxation services?
You may be finding that tax responsibilities become more of a burden to your overall success. You may need support from tax advisers if you’re looking to save time, reduce the risk of error, or if your business doesn’t currently have an experienced team in place to complete these tasks.
How will I benefit from outsourcing taxation services?
You can benefit hugely from outsourcing your corporate and personal, specialist tax advice services. Primarily, this can involve saving money, which can allow you to focus your intentions on developing your business further or focusing on other personal responsibilities.
Not only can outsourcing personal tax services save you money, but it can also save you time. You won’t need to spend extra hours trying to navigate complex tax calculations, as our team can simply do this for you.
Due to the complexity of legislation, outsourcing tax services can significantly reduce the risk of error. This is because you’ll be accessing a team of Chartered Accountants in Walsall and Birmingham who have decades of experience and can advise you on the best course of action. No matter how complicated your tax liability, it’s likely that at Edwards Accountants, our tax advisors have seen it all before.
What specialist taxation services can Edwards Accountants help me with?
Our Chartered Accountants in Birmingham and the West Midlands are passionate about providing a corporate and personal tax advisory service that is both informative and courteous, keeping you informed every step of the way.
We provide a wide range of solutions ranging from personal tax planning services and routine compliance, to assisting with complex HMRC investigations and enquiries. We take a proactive approach to taxation, providing our clients with appropriate advice to enable them to make informed decisions on the tax aspects of particular business transactions or corporate tax planning strategies. Our specialist tax services include the following:
- Private Client Taxation
- Corporate Taxation
- Business Asset Disposal Relief (Entrepreneurs’ Relief)
- Share Option Schemes
- Enterprise Investment Schemes
- Trusts, Trustees & Estate Planning
- Corporate Restructuring
- Family Investment Companies
- International Tax
If you’d like to know more about our taxation services and how we can help support you in becoming more tax efficient, please get in touch with our team today.
Get in touch with a tax specialist:
FAQs
Simply put, a tax specialist is an expert in their field. While an accountant will have fantastic general knowledge of several financial topics, they may not be able to organise your taxes in the most effective manner.
A tax-specialist is knowledgeable across all areas of personal and corporate taxation, meaning that they are aware of every possible way to maximise tax savings and efficiency. They will provide you with trusted and reliable advice to improve your or your business’ financial situation.
All our tax staff have specialist tax qualifications and can even work alongside your existing accountant to ensure that you receive only the best service.
For individuals, we will investigate your sources of income and make sure that you are fully compliant and declaring everything you need to. Next, we will analyse and advise you on the structure of your assets and sources of income to ensure that you are maximising available tax-efficient options.
There are several ways to do this, including sharing certain tax reliefs with your partner, incorporating property investments, or by using a trust.
For businesses, we will look at the way your business is structured, any business partners or groups you are part of, the industry you operate in, and more to work out where you could maximise the extraction of profits. We will also be able to advise you on government schemes, like those available for research and development, to reduce unnecessary expenditure.
We can even advise high net-worth families who are thinking of utilising investment or property companies as tax efficient vehicles, too. Get in touch with Edwards Accountants today to discuss your options and find out how we could help you.
There are three ways to invest in properties:
- As an individual
- Through a limited liability company
- Through a partnership
All three have tax benefits that are unique and often depend on your financial goals, including whether you hope to build a full portfolio, develop the property and sell it on later, or use the property as a pension for retirement. This may also depend on whether you plan to hold onto all current property assets or if you are looking to expand your portfolio.
These methods are helpful in reducing or eliminating Capital Gains Tax and Stamp Duty payments, which can get very expensive the more properties you acquire. Reach out to a tax expert and explain your goals to find out what the most efficient method of property investment for you!
- Looking at existing assets
- Figuring out your family and life goals
Inheritance Tax, or IHT, planning is just as much about understanding your goals and aims in life as much as it is about planning your estate in death. We aim to advise you on the ways that you can achieve your financial goals, such as travelling the world or leaving a sum for your grandchildren, while also maintaining your current standard of living.
We also work to understand your family tree and how you wish to divide your wealth when the time comes, often advising clients on the use of trusts, wills, and family investment companies.
IHT could take away up to 40% of what you leave to your loved ones when you pass away. However, everyone has a “nil-rate band”, which is the value of your estate that you can leave without being charged IHT, of £325,000. If you leave any property you own to a ‘direct descendant’, this increases to £500,000. You can also combine this figure with your partner. Speak to a tax specialist at Edwards to find out more.
There are benefits for both employers and employees when it comes to employee share schemes, as it can help both parties save on tax payments.
For employers specifically, schemes like EMI will not cost the employer directly unlike paying extra salary, and there will also be no National Insurance charges (NICs) when the shares are granted or sold. Companies can also benefit from a tax deduction roughly equal to the benefit the scheme has brought employees.
For employees, the main advantage is that any money they receive from the sale of shares is subject to Capital Gains Tax at 10% rather than Income Tax at 40%. This can help improve employee engagement and retention at your company.
We help our clients with EMI scheme valuations, set up, and maintenance to ensure that you and your employees are getting the best that you can out of these schemes. To find out more, download our factsheet on EMI investment schemes or get in touch with a qualified tax specialist.
