McBrides’ tax team is highly regarded for its advice to private individuals, businesses and other organisations on a wide range of tax matters.
Contact us for expert help with:
Making Tax Digital for VAT
With Making Tax Digital (MTD) for VAT coming into effect in April 2019, click on the link to find out more about the critical steps that businesses should be taking to ensure readiness for this deadline.
MTD for income tax and corporation tax purposes is still in the pipeline and will not be implemented before April 2020 at the earliest.
Cross border trading
UKTI accredited advisors, we work closely with UK based businesses to help them understand the implications of cross border trading and how best to structure their overseas operations. We also assist businesses from outside of the UK in understanding and complying with their obligations arising from their UK operations.
HMRC investigations support
Tax investigations can be intimidating and costly. It is best to seek expert advice as soon as possible. Over the years, the team at McBrides have dealt with many clients experiencing different types of tax investigations, ranging from income and corporation tax, through to PAYE and VAT. We specialise in resolving these matters with HMRC, taking responsibility for all communications with them and rigorously negotiating your position to obtain the best settlement possible.
Inheritance tax exposures and mitigations
It makes sense to plan for the future, whether it is for yourself or your family. We can advise on techniques to mitigate inheritance tax on personal wealth, family businesses and investment portfolios. In particular, we have considerable experience in tax and succession planning and have developed a proactive approach that is based on understanding your goals and minimising tax liabilities whilst enabling a smooth transition to the next generation.
Structuring of specific transactions
Give us a scenario and we get real satisfaction out of coming up with opportunities and solutions. So if you ask us to look at the tax implications of a proposed transaction, we will establish the most tax efficient way to achieve your desired commercial and practical outcome.
Recent transactional tax advice we have provided covers:
- buying and selling property, including stamp duty land tax (SDLT) and annual tax on enveloped dwellings (ATED) matters
- buying and selling businesses, or business mergers and demergers
- tax efficient remuneration / profit extraction arrangements
- ascertaining appropriate business structures, including incorporations
- gifting of assets
- management buy-outs or shareholder exits, including through a company purchase of own shares
- company / group reorganisations and de-grouping.
Tax compliance for individuals and businesses
From personal, partnership and company tax returns, through to VAT and CIS compliance, our team will handle the interaction with HMRC, keeping you on track with your obligations and ensuring that you make the most of any tax reliefs available to you. We encourage you to discuss your plans with us, and any developments in your life or business. This enables us to provide you with more effective tax planning that takes into account the whole picture and the interaction of all relevant taxes.
Tax reliefs and initiatives
One benefit of getting to know you really well is that we are able to recommend relevant and beneficial tax initiatives. For example, we routinely look at whether our corporate clients are involved in any endeavours which might qualify for research and development (R&D) tax reliefs or whether they could use an enterprise management incentive (EMI) scheme to help motivate and reward their employees. These reliefs and initiatives change over time, as do your circumstances, so regular reviews are recommended.
Value added tax (VAT) is a key factor in business cashflow and potentially a real bottom line cost. Constantly evolving case law, statute and HMRC guidance makes compliance a continuous challenge. Less than excellent house-keeping can result in penalties, damaged reputation and/or missed opportunities. McBrides advises businesses and charities on the complex rules and regulations surrounding VAT, including:
- ensuring efficient VAT structures to maximise cashflow
- VAT healthchecks and reviews
- VAT related to property matters and sublets
- partial exemption
- defining how VAT should be applied to International transactions.
Whether you are looking to reduce costs or use VAT to achieve competitive advantage, we can provide the tax technical insights and skills you need to achieve the best VAT outcome. For more information on VAT contact us.