Taxation

As tax advisers, our objective is to work closely with you to ensure you pay the minimum tax required by law. We will help you to understand the tax implications of your actions, in order that you can plan ahead and conduct your affairs in a tax efficient way.

Corporation tax services

Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We will also calculate your company's tax liability and assist with the calculation of any quarterly instalment payments due.

The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your bottom line.

Personal tax services (including sole-traders and partnerships)

We are specialists in income tax, capital gains tax and inheritance tax.

Self Assessment

We have the expertise and software to take the headache out of the form filling and compliance aspect of Self Assessment. We can provide you with practical advice on personal tax and the planning opportunities available to you. Over recent years HMRC have increased the penalties for failing to file a return on time and for errors. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.

Personal tax planning

Everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet the compliance requirements. Our specialist tax team can provide you with year-round advice on all aspects of personal taxation.

Estate planning

Few of us like to think about dying; however the relevant legislation requires us to plan well in advance. This means making the necessary provisions now. There are many tax opportunities available and the earlier arrangements are made, the greater the chance of taking full advantage of our complicated tax system.

It is important when planning to transfer an estate that adequate provision is made and getting the right balance requires considerable skill and foresight – along with a detailed knowledge of the current tax regime. We provide a discreet comprehensive estate planning service that includes:

  • help with planning and reviewing a will
  • making full use of exemptions and lower tax rates on lifetime transfers
  • optimising lifetime transfers between family members
  • transferring agricultural or business property
  • transferring assets into trust
  • arranging adequate life assurance to cover potential inheritance tax liabilities.

Trusts

We also have expertise in dealing with trusts; a very tax efficient way to set aside assets for future beneficiaries outside the inheritance tax net. We can advise on the most suitable type of trust to fulfil your wishes, assist in setting up the trust and provide the full range of accounting services required for trust management.

VAT

Ever changing regulations and the growing demands of HMRC mean VAT compliance can be a difficult administrative process. We can help to ensure that you comply with the regulations and that overpayments are not made. To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes:

  • assistance with VAT registration
  • advice on VAT planning and administration
  • use of the most appropriate scheme
  • VAT control and reconciliation
  • help with completing VAT returns
  • planning to minimise future problems with HMRC
  • negotiating with HMRC in disputes and representing you at VAT tribunals if necessary.

HMRC Investigations and Enquiries

Being the subject of a tax investigation or enquiry by HMRC can be a stressful and worrying experience. We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return, more detailed enquiries into a company’s affairs or employer-related investigations into PAYE and P11d compliance. If you are the subject of an investigation, we can provide expert help and support.

Cross Border Taxes

An increasing amount of business is now being carried out in the Republic of Ireland. Our staff can offer you advice on how to best minimise tax liabilities payable both north and south of the border.

Property Transactions

Transactions involving properties can result in complex interaction of a number of taxes such as Capital gains Tax, VAT, Stamp Duty, Corporation Tax. Prior to carrying out any transaction it is important to contact us so that we can advise on how the deal is structured and prepare computations in order to inimise tax effectively.

Profit extraction from business

By choosing an inefficient method of extracting profits from your business, it is possible you are paying more tax than is necessary. We will advise you on a remuneration strategy, incorporating salaries, dividends, pensions and benefits, which will maximise you after tax profits.

PAYE and NIC

Our payroll team offers a confidential Payroll Bureau Service that is arranged to meet your payroll requirements and will keep your records up to date with changes in legislation.

Key features include:

  • Processing of weekly or monthly wages
  • Customised payslips
  • Completion of in-year forms (P45's, P46's etc)

We can also assist you in setting up and running your own payroll systems.

From April 2013 HM Revenue & Customs have required employers to report all employee payments and changes under Real time Information (RTI). We can file these submissions online on your behalf, or help set up your system to ensure you are able to comply with this requirement.

Construction Industry Scheme (CIS)

Operating under the Construction Industry Scheme has become a difficult process in recent years due to changes in legislation and reporting requirements. Contractors can face large fines for supplying the HM Revenue and Customs with late or inaccurate information.

Require more information?

If you would like more information or would like to speak to us direct then call us on 02866322235. Or if you would prefer, ask us a question online.

Chartered Accountants Ireland Logo

Address

MacNeary Rasdale & Co. Ltd., Wellington House, 30 Darling Street, Enniskillen, Co. Fermanagh BT74 7EW

Contact us today!

02866322235

© 2024 MacNeary Rasdale & Co. Ltd.. All rights reserved. powered by totalSOLUTION

We use cookies on this website, you can find more information about cookies here.