Irrespective of whether you are a company, sole trader, partnership, SME, or if you operate in the commercial or not for profit sector, every individual and organisation in the UK is affected by taxation.
Therefore, it is essential that you and/or your organisation are not only compliant with the legislation governing tax, but, crucially, your personal and business affairs are arranged in the most tax effective manner through professional tax planning.
Our approach ensures that our staff are kept abreast of your current circumstances and objectives. In this way we are able to provide you with the services and advice that are appropriate to your present situation and plans for the future.
We provide tax planning advice in a number of areas including:
Corporation tax
The tax world is constantly evolving as a result of changes to domestic and international tax law. Ensuring your business is not just tax compliant but as tax efficient as possible is an ongoing challenge, but it is something Knox Cropper strives to achieve for its clients. For more information on how we can help you please click here.
Establishment of trading subsidiaries
Charities and other not for profit organisations often seek to raise additional funds through the sale of goods and merchandise. Where this income is deemed to be furthering the charity’s primary purpose, there are no tax implications. However, where this is not the case and the income exceeds £80,000, profits earned are subject to corporation tax.
One way that this can be mitigated is through the establishment of a subsidiary trading company and gifting profits to the parent charity. We have extensive experience in advising and guiding clients through this process, so please contact us via the form at the bottom of the page for more information.
Business reorganisations
As businesses mature, the legal structure in which it operates may no longer be suitable. Our experts have assisted clients with various types of business re-organisations in the past including:
- Conversion of sole traders to a limited company;
- Conversion of partnerships and professional practices to LLP’s
- Share reorganisations to aid succession planning.
- Establishment of subsidiary companies.
Trust and estate taxes
Trusts can be useful tools for anyone looking to plan for the future, whether for contributing to the cost of education, the provision of funding to children and other relatives, or simply planning to pass wealth down to the next generation. Let us help guide you through the process and safeguard your finances for the beneficiaries you want to protect. We are experts in setting up and administering trusts, along with advising settlors and beneficiaries on the tax issues arising from the trust. To get more information on this click here.
Personal and partnership tax
The tax regime landscape in the UK is a complex area. With self-assessment, the responsibility vests with individuals to ensure their submissions to HMRC are accurate and filed within prescribed deadlines. We have a team of tax experts to guide you through this process and help plan your affairs in the most tax efficient manner. Click here to find out how you can benefit from our services.
Inheritance tax
With the increase in house prices that we have seen in recent years more people than ever are having to take steps to ensuring that their assets are passed on to their loved ones in the most tax efficient manner. Click here to find out how our experts can help you achieve this.
VAT
VAT is a complex tax and it is particularly complex for organisations, such as charities, which are not able to recover all their input VAT, and for organisations involved in property development and international services. If you have a VAT issue you need assistance with please click here to find out more.
