Tax Advisory

The tax liability of a business can be one of its largest expenses and therefore if it is not managed, like any other cost, it will reduce the amount of retained profits available for distribution. Due to the complexities of many businesses and the global nature of modern commerce, managing corporate and business tax has become more challenging. It is important that businesses are able to take full advantage of tax reliefs made available by HMRC.

Over the last few years we have seen changes to the capital gains tax regime with taper relief being introduced in 1998, amended in later years and then subsequently withdrawn in 2008. A flat rate of capital gains tax of 18% was then introduced, together with Entrepreneurs’ relief.

It is a well known fact that a company’s most valuable resource is its employees and that any business will only go as far as the people who are driving it. Employers therefore need to ensure that remuneration packages are sufficiently attractive to attract, retain and motivate employees.

As is often the case, the legislation can be complex in these areas and many companies and individuals are not making full use of the reliefs available. At EDF Tax we have a team of experienced tax advisers who can help taxpayers structure transactions in a tax efficient manner and explain, in understandable terms, how the interaction of corporation tax, income tax, capital gains tax and other taxes impact upon a particular set of circumstances.

For more advice on a particular area please email Kim MacDonald or Craig Hughes or call 0115 983 5580 to speak with Kim or Craig.

Tax Advisory

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