Continuing changes in tax law to ‘Self-Assessment’ suggest that dealing with your own tax affairs is relatively straight-forward, but nothing could be further from the truth.
At Price & Company we understand the vagaries of the British Tax system and are highly proficient at preparing all the necessary returns, without making a fuss.
Business tax, personal tax, inheritance tax, it’s all the same, our job is to look after your interests and minimise future tax dues, within the legal bounds. We cover all aspects of taxation.
Corporation Tax Services
Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We will also calculate your company’s tax liability and assist with the calculation of any quarterly instalment payments.
The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your bottom line.
Personal tax (including sole-traders and partnerships)
We are specialists in income tax, capital gains tax and inheritance tax.
From processing thousands of tax returns each year, we have the expertise and software to take the headache out of the form filling and compliance aspect of Self Assessment. We can provide you with practical advice on personal tax positions and the planning opportunities available to you. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.
Personal Tax Planning
Today, more and more emphasis is being put on taxpayers’ individual responsibilities and everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet the compliance requirements. Our specialist tax team can provide you with year-round advice on all aspects of personal taxation.
Wills and Trusts
Whatever happens to us in this life, one thing is for sure, one day we will leave it all behind. But what we leave behind is important for those who are nearest and dearest. Often one hears of complications and upsets that have arisen because of lack of foresight through the inadequate preparation of a Will. Making a Will is arguably, one of the most important things you will ever have to do.
Don’t worry if everything seems complicated. We will provide you with a full, understandable explanation so you can make your own decision on how best to apply your assets.
Sensitive handling of estates is as important to us as it is to the family of the deceased. You can expect a full understanding of estate administration through our experienced team, who always take into consideration your wishes and the feelings of the bereaved.
It is important when planning to transfer an estate that adequate provision is made and getting the right balance requires considerable skill and foresight, along with a detailed knowledge of the current tax regime.
We provide a discreet comprehensive estate planning service that includes:
Help with planning and reviewing a will;
Making full use of exemptions and lower tax rates on lifetime transfers;
Optimising lifetime transfers between family members
Transferring agricultural or business property;
Transferring assets into trust; and
Arranging adequate life assurance to cover potential inheritance tax liabilities.
Watch out! Watch out! Many businesses suffer through reduced cashflow because of incorrect VAT collection. Likewise, they can also suffer at the hands of the VAT inspector who serves heavy penalties on those organisations who infringe the VAT laws. In most cases, incorrect application or accounting of VAT occur due to human error. But don’t be alarmed! Using Price & Company for specialist VAT management can save you from the VAT man’s sword. To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes:
Assistance with VAT registration
Advice on VAT planning and administration
Use of the most appropriate scheme
VAT control and reconciliation
Help with completing VAT returns
Planning to minimise future problems with HMRC
Negotiating with HMRC in disputes and representing you at VAT tribunals if necessary.
Being the subject of a tax investigation by the HMRC can be a stressful and worrying experience. With the onset of personal and corporate self-assessment, HMRC staff can now review cases on a ‘sample basis’; consequently, tax investigations have become more frequent. We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return under the Self Assessment regime, more detailed enquiries or employer-related investigations into PAYE and P11d compliance. If you are about to be the subject of an investigation, we can provide expert help and support.
With the increased risk of such investigations it may be worth considering taking out an annual insurance policy to protect you and your business from unexpected costs; an investigation will undoubtedly result in additional accountancy work being undertaken. The amount of work will depend upon the complexity of the case but the cost could be substantial.