Tax Services

Tax is not just about filing your returns and paying your liability on time! As tax legislation is constantly changing we can advise on up to date tax efficient strategies so YOU keep more of what you earn! Paying less tax and maximising the wealth you have created is important when you work as hard as you do.

We will help you to plan your tax affairs to minimise tax liabilities in a manner to suit your individual and business requirements.
As well as calculating your tax liabilities as part of your statutory obligation, we advise on the following taxes:

Income Tax

Self Assessment regulations ensure it is the taxpayer's responsibility to complete and submit an Income Tax Return and settle resulting tax liabilities by the due dates.  Failure to do this will result in automatic penalties and accruing interest.

Our tax advisors can assist you at every stage: from collating the required information to assisting you with completion and submitting the Tax Return on your behalf.  We can advise you on tax repayments, calculate future tax liabilities and check Notices of Coding

Corporation Tax

 

Capital Gains Tax

Disposal of assets can result in significant tax charges; charges which may be reduced with effective pre-transaction planning.  Our tax advisers can assist you in this planning and advise you on options to minimise your exposure.

Taper Relief

The longer an asset is held before disposal, the less the effective rate of capital gains tax payable – down to 10% on those qualifying for Business Asset Taper Relief .

If you are planning any of the following then Taper Relief legislation may apply:

  • sale of company shares
  • transfer of shares to other family members
  • company repurchase of shares
Qualification for this 10% tax rate is not automatic. To ensure you achieve the maximum tax saving contact our tax advisers, who will work with you to review your business and determine its Taper Relief position, enabling you to plan ahead with confidence.
  • Inheritance Tax

When you work as hard as you do, it is essential that the wealth created benefits not only you but those you would wish to pass it on to.  Planning for the future is essential to avoid significant Inheritance Tax liabilities.  Our tax advisers can assist you with this planning, either as part of an overall tax planning strategy, or purely to help you plan how to pass on your wealth.

SDLT (Stamp Duty Land Tax)

 

VAT (Value Added Tax)

VAT legislation is complex but affects all businesses.  The financial penalties can be high due to non compliance and it is yet another administrative burden on your business.  Our VAT specialists can assist with compliance issues, and help minimise liabilities and penalties in the event of a VAT Investigation.

 

 
 
       
 
   
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    Suite 4, Earls House, Earlsway,
Team Valley, Gateshead, NE11 0RY
   
  Tel/Fax : 0191 491 0019
0191 491 0016
    Email: info@rwco.net
   
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