Taxation

Working closely with you to ensure you pay the minimum tax...

Call 01204 938696 or email info@yrfaccountants.com

As trusted tax advisers, our mission is to minimize your tax liabilities while ensuring compliance with legal requirements. We work closely with you to understand the tax implications of your decisions, enabling proactive tax planning and efficient management of your affairs.

Corporation tax services

Under Corporation Tax Self Assessment (CTSA), we take the responsibility for accurately calculating your corporation tax liability, alleviating the burden on business owners. From preparing tax returns to calculating quarterly instalment payments, we ensure compliance with tax regulations and minimize your corporate tax exposure. Our strategic corporate tax planning services aim to optimize your bottom line, delivering tangible improvements to your financial performance.

Personal tax services (including sole-traders and partnerships)

Whether you're a sole trader, partner in a partnership, or an individual taxpayer, our personalized tax services are tailored to meet your specific needs. With expertise in income tax, capital gains tax, and inheritance tax, we offer comprehensive solutions to optimize your tax position and minimize liabilities.

Self Assessment

Navigating the complexities of Self Assessment can be daunting, but our team is here to simplify the process for you. We have the knowledge and advanced software to handle all aspects of form filling and compliance, alleviating the stress and uncertainty associated with tax returns. From practical advice on personal tax matters to proactive tax planning, we empower you to make informed decisions that maximize tax efficiency. With HMRC increasing penalties for non-compliance, timely and accurate filing is essential. Trust us to complete your tax returns, calculate tax liabilities, and provide guidance on payment deadlines, ensuring compliance and peace of mind.

Personal tax planning

Effective tax planning is essential for individuals seeking to optimize their tax position and ensure compliance with tax regulations. Our dedicated tax team provides year-round advice and support on all aspects of personal taxation, helping you navigate the complexities of the tax system with confidence and efficiency.

Estate planning

While contemplating estate planning may not be pleasant, proper preparation is crucial to ensure your wishes are honoured and your assets are transferred efficiently to your beneficiaries. Our specialist team offers comprehensive estate planning services, tailored to your unique circumstances and objectives.

Planning for the transfer of an estate requires careful consideration and foresight, as well as a deep understanding of the intricacies of the current tax regime. We take a holistic approach to estate planning, offering discreet and personalized guidance that encompasses:

  • Will Planning and Review: We assist in drafting and reviewing your will to ensure it reflects your wishes and maximizes available tax exemptions and reliefs.
  • Lifetime Transfers: Our team advises on optimizing lifetime transfers between family members, leveraging exemptions and lower tax rates to minimize tax liabilities.
  • Business and Agricultural Property Transfers: We provide strategic guidance on transferring business and agricultural property, helping you take advantage of favorable tax treatment and preserve wealth for future generations.
  • Trust Arrangements: Whether establishing trusts for asset protection or tax planning purposes, we offer expert guidance to ensure compliance and maximize benefits.
  • Life Assurance: We help arrange suitable life assurance policies to cover potential inheritance tax liabilities, providing peace of mind for you and your loved ones..

Trusts

Trusts are a powerful tool for asset protection and tax efficiency, allowing you to set aside assets for future beneficiaries outside the inheritance tax net. Our team specializes in trust management, offering expert advice on selecting the most suitable trust structure to align with your goals and preferences. From setting up the trust to providing comprehensive accounting services for ongoing management, we ensure your trust is structured and administered efficiently..

VAT

Navigating the complexities of VAT compliance can be daunting, but our dedicated team is here to simplify the process for you. We offer a comprehensive range of VAT services designed to ensure compliance with regulations while maximizing tax efficiency. Our assistance with VAT registration includes:

  • advice on VAT planning and administration
  • use of the most appropriate scheme
  • VAT control and reconciliation
  • help with completing VAT returns
  • planning to minimise future problems with HMRC
  • negotiating with HMRC in disputes and representing you at VAT tribunals if necessary.

HMRC Investigations and Enquiries

Facing a tax investigation or enquiry by HMRC can be a stressful ordeal. Our experienced team has a proven track record in handling HMRC investigations with professionalism and efficiency. Whether it's enquiries into individual tax returns, detailed investigations into company affairs, or employer-related enquiries into PAYE and P11d compliance, we provide expert support and guidance every step of the way.

Tax protection

Given the heightened risk of HMRC investigations, it's prudent to consider safeguarding your business with our annual insurance policy. Our tax protection insurance provides peace of mind by covering the additional accountancy costs incurred during an investigation. With the complexity of cases varying, the potential costs can be substantial, making our insurance policy a valuable investment to protect you and your business from unexpected financial burdens.