Tax

Tree’s tax advisers will ensure that you get the right tax advice for both your business and your personal tax affairs.

Business Tax

At Tree our dedicated tax team are centred not only making the compliance tax simpler and timelier, but also on planning ahead, so you can meet those important deadlines and obtain tailored advice. Our tax planning services include: Start Up Options If you’re starting a business, you can decide whether to set up as a sole trader, a partnership, a limited liability partnership or a company. Tax Efficient Rewards Discover the most tax efficient way to reward owners and key employees. Retaining and Recruiting Team Sharing your success is often a powerful way to retain and recruit the best people, and we can help you implement this, through initiatives like Enterprise Management Incentives (EMI). Reducing Tax on Profits Find out how you can minimise capital gain and optimise claims for tax relief. Transactions and reorganisations Learn how to plan for company acquisitions, mergers, disposals and reorganisations Research and development Make the most of your investment in new technologies or innovation, by making research and development claims that can provide a tax allowable expense of up yo 230% VAT Understand the full VAT implications of your transactions.

Personal Tax

If you’ve made the profits, you’ll want to know how you can make sure you calculate your tax correctly and plan for the future? And, as ever, Tree are one step ahead. We provide all our planning before, during and after the events - so you’ll have our advice precisely when you need it most. Our tax planning services for individuals include:
  • Income tax and capital gains tax planning
  • Pension planning
  • Succession planning and planning for exiting your business
  • Estate and inheritance tax planning
  • Share structuring
  • Entrepreneur relief scheme

HMRC Investigations and Enquiries

HMRC is working hard to collect more revenue than ever before. Last year it generated £26.6 billion from compliance activity. A figure that is set to rise to £27 billion over the next 12 months, as HMRC strives to reach its compliance targets through increased investigations. Fee Protection on HMRC Enquiries With HMRC increasing the number of enquires they make, Tree are providing fee protection to cover your fees, in any event of a simple aspect enquiry or a full investigation. This fee protection can cover:
  • Meetings and correspondence with the HMRC
  • Provide advice and guidance during the enquiry
  • Negotiate on your behalf to make certain that you pay the right amount of tax
  • Take responsibility for ensuring that you are treated fairly by HMRC, always

Research and Development (R&D) Tax Credits

At Tree Accountancy, we want to help you and your business grow. Since 2000, any businesses that spend money on researching and developing new products, processes and services have been rewarded for their efforts with R&D Tax Credits from HMRC. However, many SME’s are not claiming these Credits, because they just don’t know where to begin. At Tree Accountancy, we want to help you and your business grow. We have expert R&D accountancy experience and specialist R&D advisers in place to help you make the most of R&D tax relief. R&D work is time-consuming and expensive, but if you get it right, the rewards can be vast. How much relief could you get? R&D tax credits are the equivalent of 33p in every £1 of qualifying expenditure. So if you’re not claiming them, your business is really missing out. Even loss-making R&D companies can increase the loss or exchange it for a cash payment. Most SME’s should fall within the small company R&D scheme. This, for example, provides an additional 130% tax relief for qualifying expenditure. Which means, for each £100 of R&D spend, the company’s profits will be reduced by a further £130, a £230 deduction in total. If an R&D loss is converted into a tax credit, a refund of 14.5% of the loss is available. So, for example, a loss of £100 creates a £14.50 tax credit refund. And this can soon mount up. What R&D costs can I claim for? To qualify, your business must be carrying out a project which seeks advances in science or technology. The qualifying categories of expenditure include:
  • Staff expenditure (including gross salary, employers NIC and pension contributions)
  • Sub-contractor R&D costs (generally 65% of the cost can be claimed)
  • Consumable items (power, fuel, water etc) used directly in R&D work
  • Computer software employed directly in R&D
You can even include R&D work undertaken on behalf of your clients, too! And if your business doesn't qualify for the small company R&D scheme, it may still qualify under the larger scheme.