Tax Consultancy
Individuals and businesses alike face the challenges of managing their tax affairs efficiently while ensuring compliance with ever-evolving tax regulations. To navigate this complex terrain successfully, Beavis Morgan offers a comprehensive suite of tax consultancy services. Our team of experienced professionals is well-versed in various aspects of tax planning and compliance, helping clients achieve optimal financial outcomes and minimise tax liabilities.
Comprehensive Tax Consultancy Services
The key areas where our tax consultancy services can provide invaluable guidance and support.
HMRC Investigations (COP8 and COP9):
HM Revenue and Customs (HMRC) investigations, particularly under Codes of Practice 8 (COP8) and 9 (COP9), can be challenging and stressful for individuals and businesses. Our expert advisors at Beavis Morgan specialize in assisting clients facing HMRC inquiries. We work diligently to ensure that your interests are protected throughout the investigation process, offering strategic counsel and helping you respond effectively to HMRC’s inquiries.
HMRC Disclosure Opportunities:
HMRC offers various tax campaigns and disclosure opportunities to encourage taxpayers with undeclared liabilities to come forward and minimise penalties. These initiatives target specific sectors, investment income, compliance failures, and tax planning schemes. Taxpayers identified by HMRC can voluntarily disclose their liabilities using provided forms or other agreed methods. Making such disclosures allows for reduced penalties, and in some cases, penalty avoidance. Most opportunities have fixed closing dates, beyond which HMRC may investigate non-compliant taxpayers using various tools and data sources.
HMRC Tax Consultancy Services
As of June 2023, several campaigns are open including:
- HMRC’s Voluntary Tax Disclosure helpline assists taxpayers in voluntarily disclosing undisclosed liabilities.
- The Let Property Tax Campaign targets individuals with undisclosed rental income.
- The Disguised Remuneration 2020 settlement opportunity offers a chance to settle disguised remuneration tax schemes.
- The Contractual Disclosure Facility (CDF) is designed for admitting fraud-related tax offences.
- The Worldwide Disclosure Facility (WDF) provides a means to disclose offshore income and assets.
Those unable to use these campaigns can make voluntary disclosures through the Digital Disclosure Service.
Making a voluntary disclosure to HMRC when tax errors are discovered is a proactive step that can have several advantages. It demonstrates your commitment to rectifying tax issues and can lead to lighter penalties and faster resolutions. Whether your tax affairs require a minor correction or involve more complex matters, our experienced advisors are here to assist you in navigating the process and ensuring that your voluntary disclosure is handled efficiently and effectively.
More Tax Consultancy Services
Negotiating with HMRC on Technical Disputes:
Tax disputes can arise due to differences in interpretation or technical issues. Our experienced team, including some who are previously HMRC employees, is skilled in negotiating with HMRC on behalf of our clients to resolve such disputes amicably. We employ a collaborative approach, working to reach a mutually beneficial resolution while minimising potential disruptions to your business operations.
Tax-Efficient Fundraising for Businesses:
For businesses seeking capital through fundraising, our team can help structure transactions in a tax-efficient manner. Through our business partners Moorfields Commercial Finance and Cadence Advisory, we explore various funding options, including equity financing, debt financing, and venture capital, to determine the most advantageous route for your business.
Challenging Unreasonable VAT Decisions:
Disputes with HMRC regarding Value Added Tax (VAT) can significantly impact a business’s financial health. Beavis Morgan’s VAT specialists are well-equipped to challenge unreasonable VAT decisions and ensure that you are not overburdened with unnecessary tax liabilities.
Tax Appeals & Representation Before the Tax Tribunal:
In situations where disagreements with HMRC persist, our team can assist in filing tax appeals and representing clients before the Tax Tribunal. We provide expert representation to present your case effectively and achieve the most favourable outcome possible.
Tax-Efficient Business Exit Strategies:
Exiting a business is a pivotal moment for any entrepreneur or business owner. Beavis Morgan’s tax experts offer strategic planning to ensure that your exit strategy is not only seamless but also tax-efficient. We work closely with you to structure the transaction in a way that minimizes capital gains tax and maximizes the value of your exit.
Transaction Structuring:
Proper transaction structuring is essential for optimising tax efficiency. Our experts analyse your specific circumstances and transactions to develop strategies that align with your goals while minimising tax exposure.
Inheritance Tax and Will Planning:
Beavis Morgan provides comprehensive inheritance tax planning and Will drafting services. We work with you to create tax-efficient Wills that ensure your assets are distributed according to your wishes while minimising the impact of inheritance tax on your estate. Find out more about our Estate Planning services.
Research and Development (R&D) Rax Relief:
Our R&D tax relief specialists advisers assist businesses in identifying and claiming R&D tax credits and incentives. We help you navigate the complexities of R&D tax relief schemes to maximise your claims and receive the financial support you deserve for innovation and development efforts. Find out more about our R&D Tax Relief services.
Trust Planning:
Where appropriate, trusts can be valuable tools for wealth preservation and asset protection. Beavis Morgan offers trust planning services, advising clients on the establishment and management of trusts to meet their specific objectives.
Complimentary Consultation
Beavis Morgan’s tax consultancy services are aimed at guiding and supporting both individuals and businesses. Our team of seasoned professionals is committed to helping clients navigate complex tax challenges, minimise liabilities, and optimise financial outcomes. Whether you require assistance with HMRC investigations, dispute resolution, exit strategies, or inheritance tax planning, our experts are here to provide tailored solutions that meet your unique needs and objectives.
Your Tax Consultancy Key Contacts
