Our core taxation services consist of:

Contractors and IR35

If you are working for a business through your own limited company or partnership in order to avoid employment status in that organisation, then the provisions of IR35 may apply to you.

If you would like a consultation to discuss the tax aspects of contracting this way in more detail, please contact us.

Our Services for contractors includes everything you would normally expect, plus…

  • Review of contracts for potential IR35 status problems;
  • Provision of anti IR35 draft contracts;
  • Dealing with IR35 disputes.

Good remuneration packages are important in attracting and keep the right quality staff.

We offer comprehensive advice on all employment tax issues including:

  • Tax efficient remuneration strategies
  • Planning for retirement
  • Termination payments
  • Inducement payments
  • Company car and van strategies
  • Benefits planning
  • Expenses dispensations

Employment Status

The question as to whether someone is employed or self employed is not as straightforward as it might appear. Many people wrongly assume they are free to choose, but this is simply not the case. Although some cases are clear-cut, it is very often difficult for an organisation to make the correct decision on whether a worker should be engaged as self employed or not. The following factors should be taken into consideration…

Fundamental factors to consider:

  • The right to control the work being performed on your behalf
  • The right to get a substitute or helper to do the job
  • Mutuality of obligations

Other factors to consider:

  • Provision of equipment
  • Financial risk
  • Basis of payment
  • Opportunity to profit from sound management
  • Part and parcel of the organisation
  • Right of dismissal
  • Employee benefits
  • Intention of the parties
  • Length of engagement

These are often matters of general employment law, and not specific tax legislation. There is an enormous amount of case law in this area and HMRC are not always right. HMRC do not have the final say on whether somebody is self-employed or not. We can argue your case and take it before the Tax Tribunal if required to do so.
While the question of employment or self-employment may seem innocuous enough, the cost of getting it wrong could be enormous. In the event of a successful challenge by the HMRC, not only is there the question of settling arrears of PAYE andnational insurance,but being classified as an employee also gives rise to employment rights such as holiday pay, maternity pay, unfair dismissal etc..

We can review your existing arrangements and give you our opinion on whether workers have been correctly classified as employed or self employed.

Inheritance tax planning

Wealth succession planning enables a smooth transition of your family assets to the next generation whilst minimising tax liabilities.

We can advise upon:

  • Mitigation of inheritance tax
  • Lifetime transfers and will planning

However, estate planning is not solely about tax and above all else we adopt a common sense approach, helping you to secure your own financial needs.

Personal and business tax

Tax services are available both for business owners and private individuals including:

  • All aspects of Personal and Corporate Self Assessment
  • Dealing with Tax Returns
  • Tax enquiries
  • Computation of liabilities
  • Tax disputes
  • Correspondence with HMRC
  • Inheritance tax planning
  • Tax Investigation Fees Protection
  • Trusts
  • Property tax

If you are a buy to let investor or property dealer or developer we can advise you on issues such as:

  • Tax reduction strategies for rental income
  • Allowability of expenditure
  • When to use a limited company
  • Trading profit versus Capital Gain considerations
  • Capital Gains rollover and holdover considerations
  • Tax efficient mortgage structures
  • VAT considerations of property deals
  • Making the most of the Principal Private Residence election
  • Second homes
  • Inheritance Tax aspects
  • Tax planning

You are entitled to arrange your affairs as you see fit to legally reduce your tax burden.

Whilst meeting your statutory tax obligations is important we are interested in maximising your tax planning opportunities in addition to the basic compliance work.

We can assist with tax planning in relation to:

  • Personal taxes
  • Business taxes
  • Tax efficient employee remuneration strategies
  • VAT planning
  • Inheritance Tax strategies
  • Capital Gains
  • Profit extraction strategies
  • Exit strategies
  • Employment status
  • IR35 advice

In addition to extensive experience in these areas we invest heavily in our reference materials and specialist software enabling us to research any tax related matter and provide many ways of helping you legally save tax.

It is important that this work is done in advance and you should contact us as soon as possible and before any action is taken.

All of our Tax Planning makes legitimate use of the Tax Legislation and Case Law, so that you are not put at additional risk from a full HMRC Enquiry, or where there are risks, these are pointed out to you.

Vat returns

It is important that your VAT returns are completed correctly.

There are three methods we can use to assist in completion of VAT returns:

  • We can provide a complete book-keeping service including preparation and filing of the return
  • You provide your computerised records and we will complete and file the return for you
  • We can provide training on how to complete and file your return

We will always complete VAT returns in good time to ensure you avoid any penalties.

About us  

We work closely with our clients and act for a broad range of business and personal clients. In addition to the more general accountancy services we can assist with business development and specialist tax services.

Proud members of ICAEW

Contact us

Nigel Webster & Co
129 North Hill
Plymouth
PL4 8JY

admin@savetaxnow.co.uk
01752 670 066
 

Opening hours

Monday – Thursday: 9:00 – 17:15
Friday: 9:00 – 14:00
Saturday & Sunday: Closed

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