Taxation

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• Business and Corporation Tax
  
  We will work with you to minimise the tax liabilities on your business or company profits by focusing on areas such as:
  
  • Maximising capital allowances claims
  • Timing expenditure tax efficiently
  • Devising a tax efficient business structure
  • Pensions planning
• Business Structure and Profit Extraction
  
  We will advise you on the most cost efficient and tax efficient structure for your business to help you choose the ideal business medium for you.
  
  • Sole traders
  • Partnerships and LLP’s
  • The benefits and consequences of incorporation
  • Extracting company profits by dividend or salary
  • Corporate reorganisations, reconstructions, demerges and amalgamations
  • Investor incentives such as the enterprise investment scheme
• Buying and Selling a Business
  
  We are able to advise on all aspects of the tax consequences of buying and selling a business.
  
  • Devising a tax efficient structure for the transaction
  • Negotiating the terms of the transaction and assisting with the due diligence process
  • Drafting and negotiating tax warranties and indemnities
• Capital Gains Tax
  
  We provide pro-active advice to our clients to enable them to manage and mitigate their capital gains tax liabilities as far as possible by concentrating (where appropriate) on maximising reliefs and exemptions such as:
  
  • Entrepreneurs relief
  • Principle private residence relief
  • Holdover and rollover reliefs
  • Non-residence status
  • Maximising annual exemptions
• Employee Remuneration Planning
  Remuneration planning for directors/shareholders and other key employees is vital to a business’ success and to the management of its tax liabilities. Thomas Westcott can provide advice on areas such as:
  
  • Employee share schemes
  • Tax efficient bonus arrangements
  • Salary or dividends
  • Tax efficient termination payments
• Inheritance Tax and Will Planning
• Non domicile issues
  
  We have particular expertise in advising on the UK tax rules that apply to taxpayers who may be not resident or not domiciled in the UK.  Issues may arise in respect of income tax, capital gains tax, inheritance tax as well as VAT and national insurance contributions.  Clients often seek advice on property matters, employment, pensions, income from businesses, investments etc.  We are able to advise on residency issues and the application of double tax treaties and can explain how the relevant information should be disclosed to the tax authorities.
  
  We also regularly advise on the UK tax position of offshore trusts.  The tax rules for non UK resident trusts are complicated and onerous.  We make sure that the tax position of the trustees, the settlor and the beneficiaries is considered so that the overall tax liability is minimised if possible.
• Tax Enquiry Fee Protection Service

For more information please contact your local office or our Head of Tax Services Michael Marsh.