The tax landscape for companies operating in the financial services sector is increasingly complex and fast moving.
The consistent pressure on the UK government to tighten legislation means a constantly changing environment. Staying on top of these changes, and how they affect your business can be a time consuming and technically difficult task.
Our experienced team are well versed in tax legislation and ensuring that the appropriate elections, reliefs and tax deductions are made to help grow your business. We have established a reputation for our combination of technical knowledge and business skills, enhanced by the depth of experience across Wheelhouse Advisors in areas such as regulation and accounting which can have a direct impact on tax planning and vice versa
Expert tax advice (including structuring & planning)
Ad-hoc & project based advice across the UK corporate tax landscape...
...including, but not limited to, company formation, group structure, VAT, Reporting Fund compliance and share scheme compliance.
VAT registrations & 13th directive reclaims
The majority of firms are required to register for VAT with Her Majesty’s Revenue and Customs (HMRC).
This is especially challenging for inbound firms that have not previously had to deal with VAT reporting. There is also an opportunity here for firms established outside the EU to claim back the VAT incurred on costs such as hotel accommodation and meals. More information
Corporation & partnership tax compliance
Calculation, preparation & submission of the annual filings for HMRC.
By staying right up to date with current legislation, we are able to ensure compliance and timely submission with the tax authority. We will also complete the required iXBRL tagging required for submission of company financial statements.
Reporting fund status applications & annual obligations
Offshore funds’ compliance with the requirements of the UK’s Reporting Fund Tax regime increases the attractiveness of fund interests to UK-resident individuals.
Under the regime, UK individuals’ gains on redemption of interests in offshore funds are taxed at the capital gains rate (currently 20%), rather than at income tax rates (currently up to 45%). More information
As part of submitting your corporation tax return, certain company financial statements are required to be filed in iXBRL format.
We can do this for you ensuring that all your tax compliance is under one roof.
Share scheme registrations & annual compliance
Her Majesty’s Revenue and Customs (HMRC) require that employers file an annual report capturing any employment related securities schemes or arrangements that have taken place in the tax year ended 5 April.
There are a number of transactions that a firm might need to report. More information
Corporation & partnership tax registrations
Guidance on company formation, group structures and the submission of initial tax registrations with Her Majesty’s Revenue & Customs.
The correct company type and group structure is a key step in the efficient formation of your business.