Taxation Services
At BSO Fintax, we take pride in being your trusted partner on the journey to financial success in the United Kingdom. Our taxation services are not only meticulously designed to ensure compliance with the ever-evolving regulatory landscape but also to optimize your financial strategy for sustained prosperity. With our financial expertise, we carefully navigate tax regulations to create a framework that aligns with your business objectives. With BSO Fintax by your side, you can confidently embrace a future of fiscal stability and sustainable growth.
Who We Serve
BSO Fintax, with its expertise in taxation services, caters to the diverse needs of these groups, offering comprehensive support to navigate the intricacies of the UK tax landscape.
Business & coperate
Small, medium, and large businesses operating in the UK require taxation services to ensure compliance with tax laws, minimize tax liabilities, and optimize their financial strategies for long-term success.
Entrepreneurs and Startups
Individuals starting their businesses or embarking on entrepreneurial ventures can benefit from taxation services to navigate the complexities of tax planning.
High-Net-Worth Individuals
Wealthy individuals often have complex financial portfolios, investments, and estates that necessitate specialized taxation services to optimize their taxes.
Nonprofit Organizations
Charities and nonprofit organizations in the UK also require taxation services to navigate the specific tax regulations applicable to their sector and ensure compliance while maximizing the impact.
TAXATION
Our Taxation Services Ensure Compliance and Optimize Your Financial Strategy for Sustainable Success.
VAT is quite often more complex than any other tax regime, for example if you are property developers or trade with EU. The VAT notices specific to certain industries or transactions are very detailed and you would need a strong advice and planning before the transaction or your businesses may inadvertently overpay or underpay VAT.
Each April your attention is drawn in the foreseeable direction of the need to submit a personal tax return. During the year you would have seen a change in tax law that will have a direct impact on your immediate or future tax liabilities, or you will have incomes from new sources, for example your business has grown and you withdrew perhaps share holder dividends.
The Corporation Tax rate you pay depends on how much profit your company makes. Therefore we ensure the right strategies are put in place in order to relieve your tax burden and achieve your financial goals is what we do best. In working out your corporation tax we look into the wider areas of capital and investment allowances, unutilised losses, other incomes and Research and development tax credits etc. Contact us today for free one hour consultancy.
Capital Gains Tax (CGT) is a tax levied on the profit earned from the sale or disposal of assets such as property, stocks, or other investments. The taxable amount is determined by calculating the difference between the selling price and the original purchase price, known as the capital gain. In many jurisdictions, certain assets may be eligible for exemptions or reduced rates based on factors such as the length of ownership or specific allowances. Individuals and businesses are typically required to report capital gains and losses on their tax returns, and the applicable tax rate is determined by their overall income level. CGT is an important component of tax systems, designed to ensure that individuals and entities contribute to public finances based on the gains they realize from the appreciation of their assets over time.
It is more challenging than ever to buy property or move up through a property ladder, for example if you need a bigger house or buy to let investment. The recent changes in stamp duty land tax (SDLT), CGT and calculation of net rental income means you would need to plan a lot over the next few years.
We have quite a lot non-domiciled UK tax residents and non-residents clients including Pilots, non-dom directors of dual nationalities living only certain days in UK and other high net worth individuals having relevant foreign incomes. Historically, residence in the UK was determined by being in the UK in excess of 182 days in any tax year. However, the Statutory Residence Test (SRT) came into effect from 6 April 2013. The new statutory rules consist of the three separate tests which are intended to provide greater certainty as to a taxpayer’s residency status.
Are we eligible for R&D tax credits is the question we are asked quite often, and the answer is often yes. Many are unaware of the potential benefits, and this is where BSO FINTAX can provide R&D tax help. If your company is spending or has spent by innovating, improving or developing a process, product or service, then it may result cash payment from HMRC (if you are loss making company) or reducing corporation tax bill. From 1 April 2015, the enhanced deduction was increased further to 230% of the qualifying R&D expenditure incurred.