Capital Gains Tax is a tax on the profit when you sell or give away something (an ‘asset’) that has increased in value. It’s the gain you make that’s taxed, not the amount of money you receive.
Some assets are tax-free. You also do not have to pay Capital Gains Tax if all your gains in a year are under your tax-free allowance.
Disposing of an asset includes:
We can help you understand you tax position under the current legislation and advise you of relevant reliefs and tax planning strategies.
We can help you reduce the cost of private school fee by up to more than 50%. Significant savings can be achieved by utilising tax efficient structures.
A plan often comprises multiple strategies that are aligned to achieve a common goal by taking advantage of the right investments and savings, combined with tax planning at the right time.
Tax relief is not available on school fees directly nor can you take a salary sacrifice for school fees; however, there are opportunities to reclaim and minimise tax. We have proven strategies that relate to income, capital gains and Inheritance Tax; the proceeds of which can be put into your school fees plan.
We offer a range of ready made and bespoke products to help reduce the private school fee. Tax savings far exceed the professional fee to implement and maintain the structure.
Inheritance tax receipts hit a record high of £5.2bn in the last tax year, despite the introduction of a new allowance that allows couples to pass on a family home worth up to £850,000 tax-free.
Inheritance is a type of taxation that can take away a significant part of your wealth if you don’t plan it properly. We have seen cases in which taxpayers have simply delayed matters to a point where it was frankly too late to maximise the full benefits of inheritance tax planning.
With the introduction of new allowances and using tax planning techniques, we can assess your tax position to ensure that your hard earned money is safe and protected from surprised taxation. A lot more people are now in the IHT bracket due the increase in UK property values.
Book a free consultation with us today. We don’t ask you to invest your money in order to reduce IHT exposure, our advice is based on the use of basic tax planning techniques in a proactive manner.
Most companies assume that they don’t qualify for R&D tax credits but they do. There is a lack of awareness as to what qualifies for tax credits and how to identify eligible activities.
We connect the dots for your business, we simplify R&D tax credits for companies by using our proven technique that has 100% success rate. We also use industry related examples and understand your business activities to better connect with you and your business.
The money you receive from the government can be reinvested and help you take the next step in business. We have seen companies gaining confidence as a result of successfully claiming R&D tax credits every year and being able to turn their passion into tangible business growth.
Contact us to book your free consultation with us.
HMRC tax investigations are tricky and cause undue stress to taxpayers. We help you by acting as your professional representatives and provide you with sensible advice.
Even HMRC appreciate our assistance in concluding matters with them on behalf of taxpayers and deciding sensible basis to protect our client’s position. We have dealt with cases where assessments have been reduce to 1/10 of its original value because important information wasn’t presented to HMRC.
We are able to determine if your penalties are incorrect and we work with HMRC on your behalf to establish the correct tax position. If HMRC’s understanding of a matter can be clarified then we politely request to meet with them and supply further explanation. HMRC appreciates a logical approach to dealing with tax investigations and we receive positive feedback from both, our clients and HMRC.
Contact us today if you’d like to discuss your tax investigation and require our professional representation as your tax advisor.
We work with higher rate taxpayers to help them achieve the most tax efficient tax position. We don’t ask you to invest in financial products, however if you are looking to build a property portfolio or sending your kids through private school, we can certainly help you to save significant amount of tax.
Income generated through dividends can also be considered in the overall plan, tax planning can help you to set an optimum level of dividends based on your circumstances. 7 out of 10 times, we are able to reduce your tax bill by using non-aggressive tax planning techniques. We ask you to meet us for a “fact finding meeting” in which we identify possible tax planning strategies for you.
We don’t get involved in risky tax avoidance schemes as they are heavily targeted by HMRC. If you’d participated in a tax avoidance scheme, we can still help you to settle with HMRC and take full control of your tax investigation.
In addition to that, high net worth individuals tend to have multiple sources of income and could engage in complex business transactions, we provide ongoing support to complete complex transactions and deal with tax matters afterwards.
If you want us to deal with the stakeholders on your behalf such as solicitors, estate agents, buyers/sellers etc. – we can be appointed to process those matters on your behalf.
Have you received a letter from HMRC about Worldwide disclosure facility? You must take this seriously as it is likely that knowingly or unknowingly your tax affairs are not in order.
The facility allows you to make a voluntary disclosure relating to “offshore interests”. HMRC work with other tax authorities globally to end tax evasion and increase financial transparency. HMRC’s tools are sophisticated and allow them to browse through various databases to identify possible tax non-compliance.
It is extremely important that you are fully tax compliant otherwise you could face life changing tax penalties from HMRC. If you are legally savings tax then that is not a problem for HMRC, they even encourage people to take interest in tax and make full use of reliefs you are eligible for.
We have helped clients to make disclosures to HMRC and provide full details to conclude the matter. We are experienced in using the “self checkout” penalty method implemented by HMRC and advise you how much you need to pay as a result. We have successfully concluded matters with HMRC within a period of six months.
If you are looking for investment into your business, getting advance approval from HMRC to accept investment under SEIS and EIS is a no brainer. You dramatically increase your chances of getting an investment in your business. Most investors only invest in HMRC compliant companies as they can get a portion of their investment back from HMRC.
Say they are investing £100 in your company, SEIS can reduce the cost of investment by 50% – In other words, investors can buy shares worth £100 by only paying £50 for it. It is an attractive proposition for investors and could help capture their interest when you pitch your idea.
We have over 90% success rate in getting approval from HMRC. Our pre-application checks can identify if there are holes in your application and we can advise if there is a way to overcome those problems. The processing time depends on HMRC as they can ask questions, however, we have seen cases where advance approval was granted in 4 weeks. Contact us if you are looking to make your company investment friendly.
EMI schemes are extremely important especially if you are a startup, you may not be able to offer the market rate salary but you can reward your employees through EMI schemes. Your team work to increase the company value and get rewarded as a result. It is extremely tax efficient share scheme and flexible in terms of how it is implemented.
Simplifying a group structure or dissolving companies that are no longer needed can improve the overall value of a group. It allow funds to be returned tax efficiently and increase returns to shareholders.
When recommend group restructuring when to go over a million pounds in turnover to ensure that you have a tax efficient structure in place to absorb future growth of the company. HMRC clearance is mandatory before group restructuring is implemented otherwise there is a tax charge on the transaction. We obtain tax clearance from HMRC and restructure businesses without any implications to tax. We have a 100% success rate in getting approvals from HMRC, our pre-approval checks make sure that you are eligible for tax relief before an application is made.
Group restructuring can help you to diversifying risk and protect valuable assets in your company, it can also be used to separate trading activities at different risk levels and create divisions within your business. Another advantage of group restructuring is the overall increase in value and simplification of management.
Contact us to enquire about our ready made and bespoke solutions.
How much is your business worth? Most business owners would like to keep track of their business valuation to monitor yearly progress. Business valuation is also needed to complete certain business transactions for tax purposes, for example disposal of shares to connected companies.
If you are looking to sell your business or retire by exiting the business, business valuation report can help you understand how much could you realistically ask for your business. We consider different valuation methods to provide you with an estimate of how much your business is worth.
Use of a trust to protect your family’s wealth is an effective method of wealth planning. Trust can be used in many different ways, for example, do you need someone to manage your money for you or benefit them after your death? Trust can provide a suitable solution.
Especially if money is given away to a minor or someone with mental health issues. A special type of Trust can be used to ensure that the money is not wasted by the beneficiaries. Trust can be used to protect wealth in circumstances such as divorce, death and business bankruptcy.
Income generated within Trust is reported to HMRC and taxed, however we are able to arrange regular tax refunds from HMRC based on your circumstances. Setting up a trust can be expensive however, it can help you avoid costly mistakes further down the line. If income is distributed to minor beneficiaries, the use of a trust is likely to result in tax refund every year.
Whether you are looking to buy a company or acquire funds to grow your business, we can help.
Especially during exit planning, we have seen cases where buyer doesn’t have enough money to buy shares from the leaving shareholder/partner. We can help you structure the deal in regards to when the money is payable and also help you to get finance on suitable terms.
Our finance team stays on top of your finance agreements, if we come across a finance deal that’s cheaper than your current deal, they will contact you to offer you a better deal. Please note Tax Qube does not offer financial advice or loans and refers to industry experts. Tax Qube may receive commission from lenders based on a successful introduction.