Personal tax compliance
The UK has one of the most complex tax systems in the world, with thousands of pages of primary legislation and many hundreds more added each year.
At LFF, we deal with a large number of personal tax returns from very simple returns for directors of limited companies up to complex returns for high net worth individuals. Even the simplest of tax affairs can benefit from a professional review to ensure compliance with the legislation, given the complexity of the rules, and to ensure that all reliefs available are being claimed.
We aim to provide an efficient and proactive service, reviewing your tax affairs and ensuring that you pay the correct amount of tax, while also advising you as to any tax efficiency savings that could be made.
Corporation tax compliance
As a general practice firm, the same team responsible for preparing your company’s accounts will also prepare the Corporation Tax return. This enables us to apply joined-up thinking and consider your company as a whole, rather than relying on different departments for each task.
We can assist with corporation tax planning, including advising on the best use of group relief, maximising capital allowances claims and assisting you with other reliefs such as Research and Development.
Trusts
Trusts can be a great way to pass on assets while retaining control over how they are to be dealt with, protecting capital and potentially saving inheritance tax. Trust taxation is complex and all aspects should be considered before deciding whether a trust is right for you.
We can provide tax advice on the creation and running of trusts, and we offer a full compliance service covering annual tax returns, trust registration and inheritance tax returns.
Tax advice and planning
We can offer advice on all aspects of tax and VAT, to enable you to achieve the best tax result by arranging your affairs appropriately and taking advantage of relevant reliefs. We encourage all our clients to come and talk to us before undertaking a significant transaction.
We can also advise on the tax implications of various business decisions, such as new business start-ups, asset financing, profit extraction, succession planning, business acquisitions and sales and reconstructions.
Increasingly, tax avoidance appears in the media and HMRC are under constant pressure to clamp down on tax avoiders. Our tax advice is geared to finding the best solution for you while bearing in mind the commercial requirements of the situation and making use of tax reliefs as intended by the tax legislation. We don’t recommend or advise on artificial tax avoidance schemes.
Fee protection insurance
We offer insurance to cover the cost of our fees in liaising with HMRC should you or your company be selected for a tax enquiry. Please contact your usual LFF adviser for more details should you be interested in joining the scheme.