Partnerships: Business Tax Planning for Partners
Income tax can represent a substantial cost to the partners of a business. Moreover, the increased reporting obligations, robust investigation policies on the part of the tax authorities, and harsher penalties for non-compliance, mean that an undue amount of your time and resources can be taken up collecting revenue for the Government.
We offer a range of services to help you minimise the exposure of partners to income tax on business profits and relieve you of the administrative burden of complying with tax legislation. These include:
- Determining the most tax effective structure for your business
- Taking full advantage of tax opportunities and reliefs
- Achieving the optimum capital or revenue tax treatment
- Reducing tax on disposals and maximising relief on acquisitions
- Making the most of tax opportunities specific to your business
- Meeting the rigorous compliance demanded by the self assessment tax regime
- Acting on your behalf in discussions with the tax authorities
Efficient business tax planning can result in potentially significant improvements in retained profits and will always ensure that provision is made for tax payments well ahead of the due date.
The form filling and administration of partnership tax compliance is a natural sequel to both business tax planning and annual accounting work. We aim to carry out this work as seamlessly as possible for our clients, ensuring that Partnership Tax Returns, etc are filed with HMRC ahead of statutory due dates.
Where we complete Partnership Tax Returns, we are able to offer you the opportunity to join our tax investigation insurance scheme to protect you against the potentially high cost of representing you in the event of an investigation.
Contact us today to discuss how we can help you with business tax planning for Partners.
