Corporate and Business Tax
The corporation tax rules continue to become more complicated. The new rules on corporation tax loss relief contain several welcome relaxations including to the previous potentially restrictive group relief provisions. They do, however, also contain detailed changes and anti-avoidance provisions. ETC Tax can provide expert advice or a second opinion.
Transactional tax – Buying and Selling a Business
This often brings with it the need to consider multiple taxes at both a shareholder and corporate level. Tax must not overrule the commercial requirements of the deal, however, to avoid a potential significant tax leakage the tax issues involved need to be fully understood.
Reconstructions and Reorganisations
It is often necessary to reorganise the company ahead of a sale or partial sale or as is becoming more common to facilitate the division of the company between different family groupings. Again, multiple taxes need to be considered and careful planning called for to ensure that the various relieving provisions can be obtained.
Enterprise Investment Scheme (EIS)/Seed Enterprise Investment Scheme (SEIS)
The rules are detailed and HMRC will strictly interpret them. Simple procedural errors can easily result in the loss of the relief. This is an area where specialist knowledge is often called for, which ETC Tax can provide.
Reward and incentive planning
Good staff are hard to find and retain, such that incentivising and rewarding key staff will likely be high on your clients’ list of priorities. ETC Tax can help advise your clients on the options available to them, including the use of share schemes, so called “phantom share schemes”; growth shares or perhaps employee ownership trusts.
Planning an Exit
Owners of a business may plan commercially for their exit but commonly overlook the practical considerations of which tax is often a major consideration. Tax planning can be done more easily and efficiently if undertaken early in the process. ETC Tax can help your clients plan for an exit.
Tax valuations are required for a number of purposes. We are experienced in providing independent valuations and where necessary agreeing these with HMRC.
Research & Development/Patent box
Both can give significant tax savings. It is, however, relatively common for potential claims not to be maximised. This is an area where specialised assistance can pay significant dividends. ETC Tax have substantial experience in dealing with claims in both areas.
Misunderstood and often overlooked, capital allowances can offer a valuable relief for your clients with significant capital expenditure. Whilst only available for a limited range of assets, each has a separate set of rules, which need to be fully understood. ETC Tax is able to advise on all aspects of capital allowances.