Managing payroll for your employees means staying compliant with several regulations. These range from HMRC-led reviews of Pay As You Earn (PAYE) or National Minimum Wage, to effective pay gap reporting. But following changes in requirements and making sure payroll is being executed correctly is a big task – and it can take your focus away from your business priorities.

Here’s where our expertise comes in. We have an established methodology you can trust and we can call on experts from across our global network of firms to provide multidisciplinary support. That enables us to help you with all aspects of local and global payroll.

Our subject matter experts can help you work through and simplify increasingly complex payroll compliance requirements. We give you clear and practical insights, allowing you to focus on business priorities.

Building and running your own business is always hard. Thinking about your tax position is an unwanted distraction that pulls you away from what you do best. However understanding the UK tax system with your obligations and the available reliefs and exemptions is critical to your success.

Exiting your business can be a once in a lifetime event and it’s vital to do it right. Despite that, most individuals under-prepare failing to take professional advice. This has the ability to significantly impact the net proceeds that you ultimately walk away with.

For businesses at the other end of the company lifecycle, thinking about your personal tax position from the start will have benefits for years to come.

What we can do to help

• Advise on business exits
• Provide you with entrepreneurs’ relief and investors’ relief reviews
• Transaction clearances
• Advise on cash withdrawal
• Shareholder structuring
• Review the BPR status of your business

The UK personal tax compliance landscape is very complex, with reporting requirements that vary based on the type of tax and your individual circumstances. The self-assessment system of taxation means it is your personal responsibility to complete a tax return and provide HMRC with full details of all taxable income and capital gains. We guide you to ensure you’re fully compliant, and pay the appropriate amount of tax.

Not paying the right amount of tax at the right time, or failing to submit a tax return with HMRC by the due date can result in heavy fines. Additionally, failing to tell HMRC about your chargeability to UK tax could result in them investigating up to 20 years and collect any underpayments of tax.

Given the strict deadlines and potential penalties, it’s important not to get your UK tax wrong.

How we can help

• Assist in completing personal tax returns
• Advise on IHT, trust and estate returns
• Help you to complete ATED, NRL and NRCGT returns
• Corporate tax compliance services

Whether you have an existing buy-to-let portfolio; wanting to assist your children onto the property ladder, or wanting to remove some property interests. Understanding UK tax is of great importance.

Key areas to consider:

• Stamp Duty Land Tax (SDLT) for purchases of ‘additional’ residential properties such as second homes and buy-to-let investments
• The extension of the Annual Tax on Enveloped Dwellings (ATED)

How we can help

• Advise you on buy-to-let tax considerations, including incorporation and property acquisition advice
• Offer guidance on assisting children and other family members with their property purchase
• Advise on property acquisition for second family homes and holiday homes
• Assist with understanding property disposal, including guidance on Private Residence Relief (PRR) and lettings relief

Inheritance tax is a emotional area and is difficult to think about. However, it has the ability to impact the amount of wealth that you pass on to your family. Taking time to give early thoughts to your personal tax position, understanding how your estate will be taxed is absolutely vital.

UK inheritance tax (IHT) is certainly not straightforward. IHT can include rates of up to 40% on any assets held on death. In addition, it doesn’t just concern with your immediate estate after death. Tax may also be payable on lifetime gifts; either immediately, or at a later stage. A UK individual is typically subject to IHT on their worldwide estate.

How we help you:

• Explain how IHT works
• Assess your current exposure to IHT
• Advise on your entitlement to statutory exemptions and reliefs
• Offer guidance on making gifts to family and the use of trusts
• Help you understand how IHT may impact your family business
• Explain trust and estate compliance and reporting obligations

Whatever the reason, an investigation into your tax affairs by HMRC causes feelings of anxiety and stress and unravelling the requirements will be confusing and time consuming. As your tax advisor we will simplify the process, proactively working with you and HMRC to devise a plan that will lead to a resolution.

There are various types of HMRC investigation, from a routine self-assessment compliance check, to Code of Practice 9 enquiries.

Helping you with HMRC enquiries

• Advise on specialist HMRC investigations including Code of Practice 8 and Code of Practice 9
• Perform tax ‘health checks’ and risk assessments
• Assist you with voluntary disclosures for underpaid tax liabilities