Taxation planning and management is often complicated for financial services firms. Tax rules will have an impact on how an organization is initially structured, and on some of the strategic choices it makes. The lines between compliance, accounting, regulatory reporting and tax continue to blur, making the context in which tax choices are made additionally complex.
To manage tax in a more proactive, integrated way for organizations and the executives who own them, Cordium offers a complete service, covering both corporate and personal matters.
Our experts have specialist knowledge of tax rules and practice changes, that can help minimize tax liabilities. Our tax services extend from initial structuring through to full implementation for start-ups, to ongoing pro-active advice and hands-on support for established companies. We also help firms to achieve their tax compliance filing obligations.
Our tax team sits alongside our Financial and Regulatory Reporting specialists and UK compliance consultants – they are part of a working environment where knowledge and practical experience is shared on a daily basis. These services go hand-in-hand as the tax treatment of a transaction will usually depend on its accounting treatment and any tax planning must compliment regulatory compliance. As a result, Cordium provides its clients with holistic advice that includes the best options for a firm.
Cordium’s specialists advise on the optimal structure for a business from a tax perspective, taking into account commercial and regulatory considerations, as well as the personal considerations and intentions of its principals.
Cordium’s team can manage tax registrations in certain jurisdictions. For example, 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 act as the formal Agent with HMRC.
CORPORATE TAX COMPLIANCE
The preparation and filing of tax returns is a core service, complementing our ability to provide proactive tax advice. We prepare tax computations and file tax returns on behalf of client’s UK entities (and overseas entities with a UK business e.g. non-resident landlord companies), which are often a combination of LLP’s and limited companies. Our experts advise on all related aspects, including tax liabilities, payments on account, relevant claims and elections that need to be made.
Current UK Tax Rates
CORPORATE TAX ADVISORY SERVICES
As the business develops over time and tax law and practice changes, our experts help to make sure structures remain optimal from a tax perspective, giving hands-on, pro-active and strategic level assistance where needed. Cordium’s team have not only extensive corporate tax experience, but also the specialist knowledge relevant to asset management taxation, including:
- Investment Manager Exemption (it is 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 HMRC on these matters, our team can respond on clients’ behalf to any actual or potential HMRC enquiry.
Reporting Fund Tax Services Factsheet
Employment-Related Securities (ERS) Annual Reporting Factsheet
PRIVATE CLIENT TAX
Cordium provides a complete private client tax advisory and compliance service including the preparation of annual tax returns and tax calculations, and advising on income, inheritance, and capital gains taxes. Our team also deal with international tax issues and act as an agent to handle HMRC inquiries.
When structuring new businesses, our team often become deeply involved, which naturally leads to providing proper tax planning for the principals. Depending upon personal circumstances, the team factor in issues such as domicile, residence and attitude to tax risk. Aside from advising owners and managers (and their families and trusts) We also offer guidance to employees. Our team works with a wide range of clients, including expats, non-domiciles and high net worth individuals.