© 2022 - BPR Heaton
BPR Heaton | 27a Lidget Hill | Pudsey | Leeds | LS28 7LG
We have the expertise, experience and resources to deal with tax planning and issues efficiently and in a compliant manner.
With simple questions such as how should you operate as a business having long term consequences upon the tax footprint of your efforts, getting it right from the start is vitally important. Our team can help and advise you on the pro’s and cons of planning in the start-up phase to ensure that you keep the most of what you earn. Coupled with guidance about claiming tax credits for research and development and other relief available with the help of BPR Heaton Chartered accountants you can get the best start possible.
Key areas that you may want to consider and in which we can offer guidance and support
Structure of your business – should you be a sole trader, company or LLP?
Getting compliance right first time-simple errors can be costly and long lasting
Access to Grants and tax relief for small businesses
Planning and strategy for growth
Motivation and governance of business partners
Making sure that you get the best out of what you have is paramount to ensure that your efforts are not lost in unexpected or inflated tax payments both in day to day operations, and also when there is an exit or you need to restructure.
Our specialist tax planning team have years of expertise helping established businesses to plan to reduce their tax burden, safeguard wealth, motivate staff and ensure that the best tax treatments are achieved on exit.
Key areas that you may want to consider and in which we can offer help and professional advice :
Tax efficient restructuring – protect your wealth and manage risk
Retirement or exit planning – passing on the business / selling your share in the business.
Succession planning – motivate key staff to facilitate the next generation taking the Help
Research and Development tax credits – do you do things differently now to say 10 years ago -the chances are you are undertaking R&D.
Capital allowances – an unexpected tax relief in your premises.
Tax efficient remuneration of staff and partners.
Staff motivation and retention.
Your business will have its own tax liabilities, but then you may very well have personal liabilities too and making sure that you prepare for and minimise these liabilities is a part of our tax team’s strength.
BPR Heaton Chartered accountants have the experience and expertise to help you plan , account for ,and deal with personal tax liabilities in an efficient manner.
Key areas in which we can offer guidance and support
Preparation of personal tax returns
Advice on personal tax liabilities
Help and advice on how to structure assets and utilise available allowances and reliefs
Advice and support regarding tax implications in relation to business and personal events
Passing the business and your assets on to the next generation isn’t as easy as it sounds. Sometimes the next generation don’t want to be involved and often have different interests to each other.
Sometimes the next generation will be the current management team of the business and handing on the business whilst extracting proper value can be a challenge, we can help with this and similar issues and have years of experience helping clients achieve their goals.
Finally… you may well be looking to sell the business on to a third party and making sure that your house is in order to get the best price can often be a major tax issue.
Our specialist team have expertise in assisting families and business owners to extract the best from their business when they need to bring in new blood or are seeking to realise years of hard work and are ready for the next step.
Some areas you may wish to consider when exiting your business:
Getting the best from your proceeds – Entrepreneurs relief and the 10% capital gains tax rate is not guaranteed!
Structuring deferred consideration efficiently – protect your interests and secure valuable tax relief.
Are you ready to sell? – Due diligence is the riskiest part of the transaction. Many deals fall at this hurdle – Make sure you are aware of your tax obligations
Your inheritance tax exposure – After sale you do not have the business protections you used to, make sure the tax man doesn’t take another 40%
Corporation tax planning – for groups of companies and subsidiaries of international groups.
Bespoke tax planning – tax efficient solutions for extracting profits from your business
VAT advice-making sure you get it right and don’t pay too much
Transaction tax planning-Independent advice as you exit your business