Tax Planning

Careful tax planning can prove enormously valuable. Our tax planning services can not only identify areas where we can assist in minimising your tax liability, they can also highlight areas of your business or personal affairs that offer the greatest opportunity to make tax improvements.

Capital gains tax planning
Inheritance tax planning
Trust and estate administration
Remuneration Planning
HMRC enquiries & Fee Protection Service
Tax Health Checks

Capital Gains tax planning advice

Capital Gains Tax (CGT) applies on the disposal of most assets where any profit exceeds £9,200. CGT calculations are often very complicated and require meticulous attention to detail. At Paish Tooth we can work with you to minimise your liability to CGT, to ensure that you don’t pay too much tax and guarantee that all possible reliefs are claimed.

Inheritance Tax Planning

Tailored wealth succession planning enables a smooth transition to the next generation of your family, as well as minimising tax liabilities. We are able to advise individuals whose estate planning is close to the nil rate band, or those for whom it is many times larger. We adopt techniques to mitigate inheritance tax on your family’s homes, family businesses and even on investment portfolios, whilst also helping to ensure your own financial needs are still met.

Trust and estate administration

Trusts aren’t just for the very wealthy. Trusts can be used to protect assets and serve as a tax planning vehicle, particularly as part of inheritance tax planning. At Paish Tooth we can help you with the set-up and running of discretionary trusts, maintenance trusts for children, and interest in possession trusts. We can also deal with all trust accounting and tax matters on your behalf.

Remuneration Planning Advice

As a business owner you have the flexibility to determine how you are paid. This could be by way of salary, bonus, dividends or additional benefits – or possibly a combination of all these. There is no single solution, and we can advise on a remuneration strategy that is tailored to your individual circumstances, whether it be through tax-efficient schemes, salary sacrifice arrangements, benefits planning or dividend planning.

HMRC Enquiries & Fee Protection Service

It is an unfortunate fact of business life that you may at some point come under enquiry from HMRC. Businesses are investigated at random, as well as for specific reasons. A full investigation is not a pleasant experience and if you are selected, you’ll need an accountant who knows how HMRC works and is prepared to fight your case. Investigations and disputes with HMRC can be distressing, disruptive and expensive. The costs to defend these incidents, even though you may be wholly innocent, can be substantial.

Paish Tooth is concerned about this situation and several years ago we launched our Fee Protection Service, which will pay our fees in the event that you are selected for an enquiry. With this service you are protected for fees of up to £100,000 that we may incur in your defence. Not only does it cover the cost of a tax investigation, you can also benefit from access to a Legal Helpline which is available 24 hours a day and provides advice from a dedicated team of legal consultants, barristers, solicitors and legal executives.

Tax Health Checks

We offer both a VAT and a PAYE health check service to businesses in an around Cheltenham. As one of our most popular accountancy services, we can unearth any VAT or PAYE issues before the taxman does!

Our health checks examine a number of elements specific to VAT and PAYE, including: sample testing the most common errors that inspectors look for, statistically analysing your completed returns, comparing your returns against your annual accounts, ensuring you are correctly applying VAT scheme rules, reviewing statutory pay and tax credits and checking expenses dispensations. See how healthy your business’ tax affairs are today.