ADVANCED

Corporate Tax

Taxation planning and management may be complicated which is why we offer reliable advice from the early stages of a business right through the development stage. Specialist knowledge is key to keeping in touch with HM Revenue & Customs (“HMRC”) rules and practice changes and minimising tax liabilities.

Our tax services extend from initial structuring through full implementation for start-ups, to continuing pro-active advice and hands-on support for established companies. We also ensure compliance on corporate and partnership tax returns.

By helping our clients understand the range of opportunities available in running a business tax-efficiently, we ensure awareness of any risks involved so they can be managed and mitigated.

Tax structuring
We advise on the optimal structure for the business from a UK tax perspective, taking into account commercial and regulatory considerations in tandem with the personal considerations and intentions of its principals.

By recognising that lawyers take ultimate responsibility for structure and documentation, we would typically assist in instructing legal on precise structure requirements. We then work with our clients to help develop the overall framework before passing to the lawyer for the detailed documentation. And because we also review the legal output (ensuring fit for purpose), our clients benefit from an independent perspective and avoid duplication of cost.

Tax registrations
All proposed UK corporate entities must be registered with HMRC for Income, Corporation and Value Added Tax. Individual members of any LLP must register as self-employed for National Insurance purposes. We handle all these formalities and can act as the formal Agent with HMRC.

Corporate Tax Compliance
We see the preparation and filing of tax returns as a core service, complementing our ability to provide proactive tax advice. We therefore can prepare tax computations and file tax returns on behalf of client’s UK entities, often a combination of LLP’s and limited companies. We advise on all related aspects, including tax liabilities, payments on account, relevant claims and elections that need to be made. We can also produce personal tax returns.

Corporate Tax Advisory Services
As the business develops over time and tax law and practice changes, we help ensure optimal structure from a tax perspective. By undertaking tax compliance duties we are in excellent position to give hands-on, pro-active and strategic level assistance where needed.

Our clients benefit not only from our extensive corporate tax experience, but also the specialist knowledge relevant to asset management taxation, such as:

  • Investment Manager Exemption (essential to satisfy IME tests so UK activities do not attract UK tax on offshore profits)
  • UK reporting fund status (to attract UK investors, as gains are treated as capital rather than income, thus subject to less tax

And because we have considerable practical experience of dealing with the Revenue on these matters, we can also respond on our clients’ behalf to any actual or potential HMRC enquiry