Tax Planning, Accountancy and Business Development Advice
Based on 20 Years Experience as Practising Chartered Accountants
Tax Advice
Minimising Tax Liabilities
At Hanley & Co we consider 'tax planning' to be an ongoing event for all our clients.
Our tax expertise comes from exam qualifications and years of practical experience in dealing with business and personal taxation, and 'practical tax issues'.
All technical staff undertakes regular technical training, as the rules and regulations frequently change. We also have access to a number of tax specialists whom we can call on for support and second opinions in unusual circumstances.
We pride ourselves in working hard throughout the year to ensure none of our clients pay more in tax than the law requires.
Our belief is the most important aspect to our taxation services is to give all our clients peace of mind they have paid the least amount of tax. We achieve this by comparing all the options available, and explain our tax planning advice in plain language - no 'accountants speak' here!
We up date and inform our clients with our own monthly newsletters which are emailed to clients and are freely available via our website. Each month's 'Tax Tips and News' is packed full of useful up to date articles on tax changes, recent Questions and Answers and tips and advice to reduce tax liabilities.
We also produce a 'Tax Planning Checklist' with nearly 100 suggestions and questions to ensure our clients have arranged their affairs properly. This checklist helps us (and our clients) identify additional ways for clients to reduce their tax liabilities - as their business grows or circumstances change.
We produce two annual tax guides - 'How To Pay Less Tax' ('mini' guide at 20 pages and 92 page 'complete' guide). These guides can assure clients (and potential clients) that minimising tax is a priority for us with all clients - AND we know what we are doing!
HMRC offer various 'helplines' and resources to help taxpayers, but they tend to just tell you their rules and regulations. Their staff, guides and website do not generally give you advice on how to organise your business or personal affairs in order to minimise the amount of tax you pay.
Our experience when taking on clients who have tried to look after their own tax affairs is they have often paid more tax than was necessary - but more importantly they were never completely sure 'they had got it right'.
The tax legislation is complex and changes are made annually. To be sure you have understood and minimised your tax liabilities you really need professional advice from a firm of Chartered Accountants specialising in small business and personal tax.
Hanley & Co employs staff who will take time to understand your circumstances and requirements, and then make positive clear advice you can understand.
Capital Gains Tax
In addition to small business taxation such as Corporation Tax or Self Assessment, we also advise on minimising Capital Gains Tax.
This can arise on the sale of your business, second home, or other assets.
Capital Gains Tax can be saved and sometimes avoided by correct planning of 'transactions' such as the transfer of your business from a sole trader to a limited company.
You may need advice on the tax structure on the sale of part or all of your business whether an outright sale or an 'earn out'.
Second homes and, in particular, the sale of rental properties are areas requiring careful tax planning and understanding of the complex Capital Gains Tax regulations.
We deal with these particular areas on a very regular basis and can give you clear advice so you understand your obligations and opportunities.
Inheritance Tax
The need to understand, reduce, plan for, or eliminate Inheritance Tax can be important, especially for business owners.
Effective planning can save money for your beneficiaries and help preserve the family business in the event of your death. There are numerous allowances to reduce potential IHT, which may arise. There are also many ways to reorganise your affairs with different business structures.
Tax Enquires / Investigations
Hanley & Co have considerable experience dealing with HMRC Tax Enquiries (or Investigations as they used to be called).
With the wrong approach tax investigations can drag on for years and settlement figures can escalate. The professional way is to adopt a pro-active attitude to the Enquiry, aiming to produce a clean bill of health or a minimum acceptable settlement as quickly as possible.
