Kirkpatrick & Hopes - Succession Planning Accountants

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Tax services

Our Tax Services

All UK governments say they recognise the role, start-ups,  small and medium sized enterprises (SME’s) play in the UK economy but unfortunately they still have some way to go to simplify the huge number and complex set of tax rules that currently exist!

It is for this reason, we have a highly experienced and specialist tax department to advise all our clients as to the best legal structure for their business and where appropriate recommend legitimate ways to reduce a business owner’s business and / or personal tax liability. 

This helps to mitigate what we believe are the higher tax costs in proportional terms an SME will generally pay if incorrectly advised whilst remaining very clearly within the law.

Tax Planning

As part of our initial and ongoing tax planning we use a Financial Health Check that covers 57 tax and financial points to ensure that you are making full use of the tax reliefs available and to keep your tax bill as low as legally possible.  

For example, timing can important when purchasing a high value capital item – purchasing say a piece of machinery at the the wrong time can delay the tax relief due to you by as much as 21 months  .

Minimising your tax bill by using careful planning will give you more cash to invest in and grow your business.  

We like to have a holistic approach to your tax affairs and therefore prefer to work with your other professional advisers such as your solicitor and IFA to make sure that you benefit from ‘joined up’ advice.

Most ongoing tax planning is covered within your annual Fixed Price Agreement, if you request us to carry out additional work will we agree the cost with you upfront before we proceed.   

Tax forecasting

No one likes an unexpected tax bill. It destroys your  cash flow and stops you from growing your business.

We believe that is important that you are fully aware of your future tax bills both personal and corporate.

We like to help you budget for your tax bills by preparing estimates based on your management accounts for your business. To calculate your personal tax we base this on your current dividends and salary. 

We will make you aware of upcoming tax payments and help you plan around them, including advice on how to defer payments when you need help with cash flow.

This service can be agreed as part of your Fixed Price Agreement, or as one-off service.