Financial directors are under constant pressure to maximise a company’s profits, cash flow and assets, whilst also possibly considering the tax affairs of their fellow directors.
However, most are not aware of some “low-hanging fruit” tax reliefs that could provide a quick yet substantial boost to their company’s and fellow directors’ finances.
These tax reliefs are under-utilised because they are complex government incentives which ideally require the attention of a Chartered Tax Adviser, which most businesses and accountants can’t afford to employ.
We can help you to access reliefs – consider and secure these today:
1) School Fees Planning – significant income tax savings for simple structuring of private school fees payments;
2) Innovation Tax Relief – substantial corporation tax savings for any innovation, successful or otherwise;
3) Commercial Property Tax Relief – lucrative corporation tax savings for purchases of offices, factories, hotels, care homes and other commercial premises;
4) Residential Property Tax Relief – large stamp duty land tax savings for homes with an annexe, outbuilding or field;
5) Property Portfolio Planning – generous income tax, capital gains tax and inheritance tax savings for proper structuring of property portfolios.
We can help with these and other tax reliefs – contact us at Reliefs@NicheTax.co.uk to discuss your options.
Niche Tax Solutions
Tax Efficiency Analysts
If you’re an innovative UK company or an accountant, you will almost certainly have heard of R&D (Research & Development tax relief), most likely because one of the many “cowboy” firms will have pestered you with telephone calls and emails.
It is an important and thriving sector because it is not economical for most accountancy firms to employ their own R&D tax specialists (in other words, qualified tax professionals who focus exclusively on R&D and nothing else). Some claims are fairly simple and don’t need specialist advice, but most claims have complex aspects which may jeopardise an accountant’s professional indemnity insurance – therefore most clients and accountants prefer to be safe rather than sorry, by utilising the services of an external R&D tax specialist.
However, many non-tax entrepreneurs have seen this opportunity and set up firms in recent years, claiming to be R&D tax experts – as with PPI reclaims, many of these firms are “pop-up shops” with the sole intention of capitalising for the short-term and then moving on to the next hot topic to cash in on.
So how can an innovative business or an accountant differentiate between a genuine R&D tax specialist firm and a “cowboy”?
Well, it can be difficult, but here are some questions that businesses and accountants should ask themselves before appointing an R&D tax specialist:
1) Does the specialist employ one or more Chartered Tax Advisers? If they don’t, you should ask yourself how a firm claiming to be R&D tax experts doesn’t employ anyone fully qualified in tax?
2) Does the specialist have the words “claims”, “reclaims”, “rebates” or “refunds” in their business name? In my experience, these words are synonymous with “cowboy” firms.
3) Was the firm set up in the last five years? The more established R&D specialist firms tend to be the more genuine firms, in the industry for the long-term, past and future.
Please note that this list is not exhaustive or definitive, and is based on my opinion alone, but it will do no harm to ask these questions and hopefully it will help clients to obtain real tax advice.
Government tax reliefs are available for UK residential properties with an annexe, outbuilding or field.
Contact us at SDLT@nichetax.co.uk to discuss how you can reclaim Stamp Duty Land Tax (SDLT) from HMRC on properties purchased within the past twelve months.
Make the most of self-isolation – spend time on those important matters which you’ve been meaning to look into but just haven’t had the time to think about properly.
We have recently been helping clients to secure reliefs relating to:
Contact us at email@example.com to consider what tax-saving options might be available to you.
With some simple structuring, UK limited company owners can reduce the cost of private school fees by over 30%.
The structure and savings can apply to nursery, primary and secondary school fees, as well as providing additional tax benefits during university and beyond.
Contact us at firstname.lastname@example.org to consider your options.
HMRC and the UK government are approving generous tax reliefs for UK companies that innovate.
If your company has improved products, processes or systems in the past three years, then you should be eligible for a significant tax rebate.
Claim your rebate now – the reliefs expire two years after the end of the accounting period to which they relate.
Contact us at email@example.com to discuss how much you might be owed and how to start your “no win-no fee” claim.
Warwick District Council are holding a referendum to let Warwickshire residents decide whether they want to pay more council tax to help fight climate change:
Is it fair for all council tax payers to fund these costs, or should environment-damaging products and activities be taxed more instead?
Have your say at:
Do the so-called “Sin Taxes” work?
Alcohol, fuel and cigarettes are specifically taxed (also known as levies or duties), but are these taxes effective at discouraging certain products and activities, or do they just raise government revenues to deal with the effects?
Recent speculation has suggested that a new addition to this group could be meat and dairy products.
What do you think – should meat and dairy products be taxed to discourage their consumption and help cover the costs of reversing their damaging effects on the environment?
Have you say at: