Other services
Some financial services that you may have need of are governed by the Financial Conduct Authority. We work closely with trusted, accredited specialist Financial Advisors to provide a comprehensive service to look after all your financial needs and offer support with Mortgages, Specialist Tax Credits and Schemes, Pensions, SIPPs, SSAS’s, Investments, Inheritance and Trusts.
Loans and mortgages
We will bear in mind your goals, such as securing mortgages or specialist mortgages, or business loans for particular ambitions for your business.
Wealth management
Here is a quick overview of how we can help you manage your wealth efficiently
Retirement strategies - Everyone hopes to maintain the same standard of living in retirement as they presently enjoy while working, but to achieve this requires considerable forward planning.
Exit strategies - If you are in business, one thing you may need to consider is your exit strategy. Will you withdraw from the business, leaving it for the next generation, or will you hope to sell the business? If you intend to hand the business over, do you have a workable succession plan? If you intend to sell, how will you value the business, find a suitable buyer, etc.?
Pension provision - We can help you become aware of all the pension possibilities open to business owners and directors and make sure you making full use of all your allowances
Savings and investments - We will explore the right balance for you between savings and investments, and ensure your portfolio is split between exposures
Life assurance and long-term care - Do you have adequate life assurance, and have you made provision for long-term care and medical insurance for you and your family in your later years?
Trusts and executorships - Trusts are a relatively easy and very tax-efficient way to set aside assets for future beneficiaries outside the inheritance tax thresholds. Our trusted partners can advise on the most suitable type of trust for you, set them up and provide a full range of accounting services for trusts. Our associates can also advise you on the preparation of your will and where appropriate, we can act as trustees or executors.
Estate planning
There comes a time when we have to think about what we leave behind for our family and friends. Making the necessary provisions sooner rather than later is vital. The legislation that governs passing on your estate to your chosen beneficiaries requires you to plan well in advance. Therefore, the earlier you make the arrangements, the greater your chance of taking full advantage of the tax opportunities available and thereby maximising the amount that goes to your beneficiaries.
It is equally important when planning to transfer your estate that you make adequate provision for yourself and your partner in your later years. Striking this balance calls for considerable skill and foresight – and a detailed knowledge of the tax regime.
R&D Tax Credits
Our R&D partners have a successful track record of claims and bring the knowledge and experience to identify and claim all valuable R & D Tax reliefs where they are possible.
UK Research and Development – R&D tax relief is one of the most effective and generous tax reliefs in the world. Claiming the government-backed relief can significantly reduce a company’s tax bill, and even result in a tax refund.
However, many companies that are entitled to the relief, do not claim either through lack of awareness or because it seems complex or inappropriate to their business. R&D tax relief is not just for traditional scientific research but also for development work in design and engineering.
R&D tax relief rewards companies that invest in innovation, developing new technologies to substantially improve products, processes, devices, materials and/or services. All companies, large and small, can claim if they undertake qualifying work – even if they do not pay Corporation Tax because they are unprofitable.
Some companies will be eligible for up to 230% on their qualifying R&D costs. So, if your company is paying Corporation Tax at the current rate of 19% and spends £100,000 on qualifying R&D it could save tax of £43,700. Loss-making companies can surrender their losses in certain circumstances in return for a payable tax credit.
Research and Development Expenditure Credit (RDEC) scheme - From 1 April 2020, a taxable credit is available at 13% of qualifying R&D expenditure. For loss making companies, the tax credit is fully payable (subject to certain restrictions). Companies with no Corporation Tax liability will benefit from RDEC through either a cash payment or a reduction of tax or other duties due. The payable credit is limited to the company’s PAYE/National Insurance contributions liabilities of the staff taking part in qualifying activities in the accounting period.
Capital expenditure does not qualify under this scheme, nor does expenditure on the production and distribution of goods and services.
Creative Industry tax reliefs, schemes and credits
We work with experienced associates in applying for specialist tax schemes designed for creative industries to boost these sectors of the economy in terms of culture and economic contribution.
Cultural Investment Tax Reliefs (CITR).
Film Tax Credits (FTC)
High-end Television Tax Relief (HTTR)
Animation Tax Relief (ATR)
Theatre Tax Relief (TTR)
Orchestra Tax Relief (OTR)
Contact Us to see whether you can make a claim for any of the specialist tax schemes designed specifically for creative industries. A Schedule of our Services and Fees is available upon request.