“The hardest thing to understand in the world is income tax”
…so Said Albert Einstein, but what would he make of today’s complex, demanding and ever changing tax system?
It can be a real challenge for individuals and businesses simply to comply with all the requirements, let alone plan successfully for the present and the future. WHA are able to assist with a wide range of taxation services including:-
- Personal and partnership tax
- Corporate tax
- VAT, including TOMS
- Capital Gains Tax
- Research and development
- Employee share option schemes
For further information on each of these areas of taxation please scroll down for the relevant section.
Personal & Partnership Tax
We provide a full range of services for individuals and partnerships including:-
- Preparation of self-assessment tax returns
- Dealing with HMRC enquiries
- Bookkeeping advice, including the use of online cloud accounting software.
- Personal investor advice using the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS)
- General business advice
As well as providing advice on all corporate and compliance matters – which can otherwise “weigh down” your business – we also offer the following services:-
- Preparation of full statutory and abbreviated Financial Statements
- Preparation of company tax returns and Corporation Tax computations
- Bookkeeping advice, including the use of online cloud accounting software
- Dealing with HMRC Enquiries
- Initial planning advice as to set-up of tax efficient remuneration
- Capital allowances planning
- Advising as to specific approved tax schemes such as Research & Development and Employee Share Schemes
VAT is another ever-changing tax and recent legal cases have only added to this. It is vital that your business is up to date with the latest VAT legislation and we can help you to manage and mitigate your VAT liabilities.
- Preparation of VAT Returns
- Initial VAT Registration
- An overview of your current VAT compliance and policies with pro-active advice going forward
- TOMS Specialisation for the Travel Industry
Capital Gains Tax
Capital Gains Tax (CGT) is a tax on the profit or gain you make when you sell or dispose of an asset. However, with good planning and use of statutory reliefs available, a CGT liability can often be greatly reduced. We are able to provide advice on all matters relating to CGT, including:-
- Property transactions
- Share transactions
- Gifts of assets
- Use of available reliefs such as Entrepreneurs Relief, Business Asset Roll-Over Relief, Incorporation Relief and Gifts Hold-Over Relief
Research and Development
Research and Development (R & D) relief is a Corporation Tax relief that may reduce your company or organisations tax bill.
It is designed to incentivise projects which seek to “achieve an advance in overall knowledge or capability in a field of science or technology through the resolution of scientific or technological uncertainty”. However, the definitions of this are broader than might first be imagined and many companies, specifically travel companies, will have systems or other expenditure that will qualify.
We can assist with all aspects of an R & D claim, from the initial assessment of a project right through to the submission of a claim. Don’t miss out on what could be a very significant tax relief!
Employee Share Option Schemes
Having the right staff is vital for any business and incentivising them through share ownership is an excellent way of ensuring their loyalty and longevity of service. There are taxation implications that need to be considered though and there are a number of different share option schemes available. These include:-
- Enterprise Management Incentives (EMI)
- Company Share Option Plan (CSOP)
- Save As You Earn scheme (SAYE)
It is therefore very important to select the most appropriate one for your business and we can assist with this.