Tax planning and R&D

Tax planning is about achieving total tax efficiency – that is, paying no more tax than you are legally obliged to. Our expert tax planners will get to know your personal and business situation and make specific recommendations for how you can reduce your tax bill now and in the long-term.

There are quite a few variables to work with when it comes to managing your tax liability. For example, the structure of your business, the ownership of assets such as property and the timing and terms of their disposal. How you choose to extract profit from your business is an important one – the right balance of salary, dividends and pension contributions can make all the difference.

When we talk about long-term, we mean planning for your retirement and with the future of your estate in mind. It’s vital that you make the right decisions now to ensure a good quality of life later on and to avoid inheritance tax taking an unfair bite of your legacy before it can be passed on to your inheritors.

For businesses in particular, we have an increasing focus on research and development (R&D) tax credits. HMRC’s definition of R&D for tax purposes is broader than many people realise, with many more businesses eligible to claim. With forethought and the right analysis, we can make a case for your business to claim R&D relief potentially worth a significant amount.

Apart from extensive experience in tax planning, we’ve also invested heavily in up-to-date reference materials and monitor tax legislation, tax cases and HMRC’s internal manuals. That allows us to stay on top of the latest legal precedents and make sure you’re claiming every reasonable allowance. We also use specialist software to analyse your accounts for opportunities that might otherwise be missed.