Tax planning

Our primary tax objective is to minimize your tax bill within the legal boundaries.

Saving tax, in simple words, is having access to more cash to achieve your goals. We use the consultative approach where we will, first of all, gain an understanding of your business or individual matters and then provide you with a bespoke solution and the end result is always one: your reduced tax bill.

How to save tax

Everyone wants to save tax but not everyone knows how to do it. There are numerous ways you can save taxes. We offer useful advice and perform computations for you in the following areas:

• Structuring your business type and activities
• Research and development tax credits
• Tax-efficient remuneration schemes (Both for owners and employees)
• Employee incentives, including EMI share option schemes
• Capital allowances
• Reclaiming input VAT (VAT recovery)
• Finance re-structuring
• Utilizing tax reliefs applicable to your specific case
• Utilizing timely HMRC tax schemes
• Spouse income and assets arrangements and planning
• The Patent Box incentives

Taxes are subject to quick and consistent legislative changes so speak to us today to get maximum tax savings which could not be available if delayed.

If you need assistance with tax planning, simply:

• Call us on 07988973270  or

• Email info@thameshill.com or

• Submit a Quick Enquiry

VAT

VAT is a transaction-based tax

Value Added Tax (VAT) is one of the most problematical but frequently charged taxes on individual transactions. There are a number of considerations we take into account on your behalf.

• You correctly account for VAT
• You do not lose any invoices/bills paid as they reduce your tax liability and payment
• VAT return is prepared and filed with HMRC timely
• No errors are found in the VAT to avoid any levies which can be substantial sums
• Act as your agent and liaise with HMRC for any VAT related matters

Moreover, we can advise your business on the VAT implications of a UK-EU supply chain especially in the wake of the latest Brexit developments.

If you need assistance with your VAT, simply:

• Call us on 07988973270  or

• Email info@thameshill.com or

• Submit a Quick Enquiry

Corporation tax

Corporation tax is paid on accounting profits made by a business in a year. Different tax rates apply to different businesses depending on their profit size. There are a number of ways e.g. allowances, reliefs and exemptions that can be used to cut down your tax payments. It is called tax planning and we have the expertise to help you pay minimum legally allowed tax retaining profits in your business to accumulate, invest or distribute to you as dividends.

We can assist you with company tax returns and tax computations and will also be able to provide advice on tax planning areas that will reduce your tax bill legitimately.

If you need assistance with your corporation tax, simply:

• Call us on 07988973270  or

• Email info@thameshill.com or

• Submit a Quick Enquiry

When is capital gains tax charged

Capital gains tax is charged when you sell an asset at a profit or when you gift an asset. For example, when you buy a diamond ring for £10,000 and sell it for £11,000 you gained a profit of £1000 which is chargeable to capital gains tax.

How do we help

There are tax allowances that can be used towards reducing your tax liability. We provide you advice on the best ways of managing your tax so eventually your tax is minimal or even zero depending on your particular case.

If you need assistance with capital gains tax, simply:

• Call us on 07988973270  or

• Email info@thameshill.com or

• Submit a Quick Enquiry

Tax investigations by HMRC

HMRC are empowered to start tax investigations in any business or individual’s business affairs where they believe have unusual entries or inconsistencies or even who have been picked up randomly. It may lead to severe penalties let alone the disruption to business operations and stress it may carry. But we have experienced tax experts to provide you complete help and represent you to HMRC.

How do we help

• Day to day assistance with any queries raised by HMRC
• Act as your agent
• Review your accounting and internal controls to ensure risk areas are highlighted
• Liaise with HMRC to revoke or reduce any levies in certain cases
• Provision of Fee Protection insurance which covers for the cost of work we do towards such an investigation.

At Thames Hill, we advise businesses and private clients on how to make the best of the most tax-efficient reliefs and help them structure their financial matters in such a way to fully utilize the tax schemes available. Tax legislation keeps changing and affects businesses in numerous ways. We empower our clients to stay on top of such changes and fully utilize the opportunities and keep avoiding the potential pitfalls.

If you need assistance with tax investigations by HMRC, simply:

• Call us on 07988973270  or

• Email info@thameshill.com or

• Submit a Quick Enquiry

Research & development tax credits

Research and Development tax relief is a complicated area but it has the potential to save you thousands or millions depending on your business size. There is a good chance you are losing out on potential tax relief that you are entitled to but aware of. We are here to help you.

If you need assistance with R & D tax incentives, simply:

• Call us on 07988973270  or

• Email info@thameshill.com or

• Submit a Quick Enquiry

Income tax

At Thames Hill, we are happy to support you and to simplify the income tax process for you. We will assist you in making advance planning to ensure you save money in income tax legitimately.

• Remuneration planning
• Relief for bank interest paid
• Utilization of losses from investments
• Spouses and partner income planning

Losses utilization on certain types of investments and from self-employment

• Gift aid contributions
• Pension contributions
• Land or shares gifts

If you need assistance with your income tax, simply:

• Call us on 07988973270  or

• Email info@thameshill.com or

• Submit a Quick Enquiry

Self assessment tax returns

Income tax return filing becomes a legal obligation in a number of cases e.g.

• If you are a company director
• Letting property
• Sold company shares or
• Have a sizeable investment income portfolio

The best thing is to discuss your particular case with us in confidence as only then can we advise you with 100% certainty if you are obliged to file a tax return or not. If you are in doubt or think you may not be liable to tax, your best and the safest bet is to speak to us as you may have to file the tax return even if your tax is zero.

What we will do?

• Calculate your tax and discuss with you the tax liability
• File your return with HMRC (Online or paper-based as we agree with you)
• Liaise with HMRC in case of any queries, if any
• Communicate you the dates of tax payment
• Advise you to keep your tax records for a period as specified by HMRC

If you need assistance with your self-assessment tax returns, simply:

• Call us on 07988973270  or

• Email info@thameshill.com or

• Submit a Quick Enquiry

Inheritance tax

When our loved ones depart us that is not the best time to ponder over taxes let alone the stress and worry that may come from statutory compliance. So we have bespoke solutions for you to help in the best possible ways to manage your tax liability that arises in such sad events.

•  Business assets planning
• Trusts planning
• Company shares planning
• Wills
• Planning for exemptions and reliefs

If you need assistance with your inheritance tax, simply:

• Call us on 07988973270  or

• Email info@thameshill.com or

• Submit a Quick Enquiry