Richard Grimster
Partner
Tax planning
Thinking ahead to help you structure your transactions effectively
You know there are certain times of the year when you need to think about tax. But if you really want to keep your tax bill to a minimum, consistent and ongoing tax planning can make a big difference.
With our help, you can make informed choices about factors that could affect your tax bill. We can advise you on strategies that will make the most of the tax reliefs, allowances, and credits available to you.
Supporting you in many ways
Our tax planning services relate to many aspects of your business, and cover areas such as:
- cash and profit extraction
- international activity
- land and property
- share schemes
- choice of business structures
- succession and sale
- transaction planning
- trust and estate planning
- wealth preservation
- raising finance
We begin with a careful evaluation of your financial situation, discussing your future plans and goals to help define the right plan of action. As independent advisors, we’re always working with your best interests in mind, bringing you tax-saving opportunities with a strong commercial basis.
Our team of tax planning experts can also provide accurate and tailored advice to individuals looking to optimise their tax position but also meet all tax compliance requirements.
We can provide personal tax planning advice regarding:
- land, property, and estates
- income tax
- capital gains tax
- non-domiciliary and international tax-related issues
- inheritance tax
If you’re buying commercial property
As property is a capital asset, you’ll need to be aware of two main tax implications: Capital Gains and Income Tax on profits.
As a general rule, the sale or lease of a commercial property is exempt from VAT, which means neither a purchaser nor a tenant would have to pay VAT. However there are exceptions to this which you can read about in our VAT on commercial property purchases article.
Whilst purchasing commercial property is a complex process there are some rough steps that can be followed:
Step 1: Understanding the information
Gathering all the details on financing, the vendor and all other decision factors.
Step 2: Processing the information
Modelling your future financial situation and analysing the transaction, income, capital and inheritance tax implications.
Step 3: Recommending a structure
Comprehensive analysis of our recommendations for structuring and the steps we need to take for the proposed transaction – including information to brief all other parties involved.
Step 4: Managing the process
Communicating with all relevant advisors and ensuring you take the right actions at the right times.
Advice on corporate structures
Whether you’re starting a business, looking to change your organisation, or simply want to make sure your company is set up in the most tax-efficient way, we can help you choose the best business structure.
Your decision could have long-term implications, and we’re here to help you make the right one. We can support you through the whole evaluation process, including:
- considering your options, to quantify the savings, rewards, costs and risks
- presenting our findings to help you make an informed decision
- planning to implement the structure
- documenting the process
- helping you with disclosure and returns
As well as the traditional business structures, the best options for you could involve trusts, joint ventures, or a mix of different types of entity. We assess all of these for you, and ensure your new structure works within your overall tax planning.
You can keep up-to-date on all things tax, whether you are a business or individual, through our Content Hub.
We can help
Contact us today to find out more about how we can help you
