Tax Planning

There are two important things to say about tax laws - they are always changing and they are invariably complex. And what is true of business tax is just as true of personal tax.

That is why expert guidance and specialist advice is truly essential. While nobody would wish to pay the government anything less than it is due, nobody should pay more than they are required either.

Over the years, our tax department has accumulated an invaluable array of skills required to produce intelligent, top quality tax planning. Planning, moreover, that doesn’t just offer quick-fix solutions but which is aimed firmly at setting your company’s tax affairs on a secure footing well into the future.

Our specialist tax services include:

• tax planning for companies of all sizes
• providing tax services for partnerships and unincorporated businesses
• advice on employee taxation, for both employers and employees
• guidance on VAT and other indirect taxes
• advising on capital gains implications, maximising exemptions and reliefs
• setting up, managing and advising on the tax implications of share option schemes
• advising on the UK implications of overseas assets and residence
• acting as professional executors and trustees
• ensuring that wills are drawn up in ways that maximise tax efficiency
• assisting executors with the entire process of probate.

Please download our recent Tax E-Newsletter Thompson Jenner Tax Newsletter June 2013

We also have a huge range of fact sheets on our site, covering most of your taxation needs. Having identified the areas that are of specific interest, please contact us in order that we can discuss how we can work together to carry out tax planning on your behalf.

Patent Box and Research & Development Tax Relief

Patent Box - The Patent Box is a new tax relief scheme designed to help qualifying businesses to pay less tax. The Patent Box is aimed at companies who own UK or European patented technology and innovations. It essentially allows the patent owner to pay just 10% corporation tax on any profits that arise from the sales of qualifying patented technology. With careful tax planning, businesses can maximise the level of profits that fall within the criteria for Patent Box, making this a potentially very valuable source of tax relief. Read our Patent Box fact sheet

Research and Development (R&D)Tax Relief - HMRC R&D tax relief allow businesses to offset R&D costs by either reducing their corporation tax bill or obtaining cash rebates for a loss-making business. It’s a valuable funding source and recent improvements to the R&D tax relief system, now make it more accessible and valuable for entrepreneurs and owners of growing businesses. Read our R&D Tax Relief fact sheet

If you would like to discuss Patent Box or R&D Tax Relief, or would like to arrange a review meeting to cover what might comprise as qualifying activities, how they work and the significant tax reliefs that can be achieved, please contact Simon Lewis on 01395 279521 or Jon Westley on 01392 258553.