Business & Personal Tax Advisory

We provide expert business and personal tax advisory, ensuring compliance and efficiency. Our tailored services include strategic planning, VAT management, and bespoke solutions for diverse tax needs.

Tax advisory
tax advisory
tax advisory

Specialised Tax Solutions

Comprehensive Tax Advisory for Individuals & Businesses

Simon & Co is your ally in the intricate world of business and personal tax advisory. We specialise in offering tailored tax solutions, ensuring that every client, be it a business entity or an individual, is equipped to navigate tax complexities with confidence. Our expertise in corporate tax planning is designed to turn compliance into a strategic advantage for businesses, optimising tax efficiency and fostering growth.

For individuals, we offer personalised tax strategies, ensuring seamless navigation through self-assessment, capital gains, and overseas tax complexities. Every solution is crafted with precision, aligning with the unique financial landscapes and goals of our clients.

At Simon & Co, we transform tax challenges into opportunities, ensuring that every interaction is a step towards enhanced tax efficiency, compliance, and financial prosperity.

Tax advisory

All-in-One Tax Advisory Services

Personal Tax Solutions

  • Self-Assessment Tax Returns – Streamline your self-assessment process with our expert guidance, ensuring accuracy, compliance, and a hassle-free experience tailored to your unique financial landscape.
  • Capital Gains Tax – Navigate the intricacies of capital gains with our specialised insights, optimising your tax position and ensuring informed decisions for asset disposals and investments.
  • Overseas Tax – Whether you’re working abroad or have foreign income, our bespoke solutions ensure you meet compliance requirements while maximising tax efficiency in a global context.
  • Buy-to-Let Expertise – For property investors and landlords, we provide tailored advice on the tax implications of buy-to-let properties, ensuring strategic management and maximised returns.
  • Personal Tax Planning – Craft a future-focused financial strategy with our personalised tax planning services, aligning with your goals and ensuring optimal tax efficiency for the years ahead.
  • Self-Employed National Insurance – Ensure the accuracy of your National Insurance contributions with our expert review, especially if you’re both employed and self-employed. We assist with refund claims and exemptions, ensuring you only pay what’s due.

Business Tax Expertise

  • Corporation Tax Liability – We shoulder the responsibility of calculating your corporation tax, preparing accurate returns, and offering timely reminders for due payments.
  • Corporate Tax Planning – Navigate business transitions and optimise your tax position with our strategic planning. We offer advice on group and shareholding structures, conduct in-year reviews for tax-efficient expenditure, and keep you updated on legislative changes, ensuring your business is always a step ahead.
  • Capital Allowances – Maximise your tax relief when investing in assets like plant and machinery. We ensure you claim the correct allowances, tailored to the type of asset and HMRC special treatments, optimising your business’s tax liability.
  • Profit Maximisation – Partner with us to elevate your bottom line. We work closely with you to increase profits and funds available for reinvestment or shareholder returns.
  • R&D Tax Relief – Don’t underestimate your business innovation. We identify R&D activities eligible for tax relief, prepare robust claims, and ensure fewer queries from HMRC, supporting your innovation journey with tailored, efficient, and value-added services.

Comprehensive VAT Services

As part of our personal and business tax advisory, Simon & Co is dedicated to offering a comprehensive suite of VAT services, meticulously designed to cater to every aspect of VAT management for your business. Our hands-on approach ensures precision, compliance, and strategic optimisation of your VAT processes.

Here are some of the things we can help you with…

  • VAT Management – Full handling of VAT, including error checks, returns, and compliance, especially for clients using our bookkeeping and accounting services.
  • Start-up support
  • VAT Returns
  • VAT Schemes and planning
  • Dispute handling and Inspections
  • Training and Digital Transition
  • VAT Registration assistance.

Each service is tailored, ensuring your business not only meets legal requirements but is also strategically positioned for tax efficiency. With Simon & Co, rest assured that every aspect of your VAT management is handled with expertise, precision, and strategic insight.

Frequently Asked Questions

Explore our frequently asked questions to find valuable information on tax advisory and various business topics. Get the answers you need to make informed decisions about your business.

What is the VAT rate?

The standard VAT rate is currently set at 20% and is applicable to the majority of goods and services.

However, there are exceptions. Certain items like stamps, financial services, and property transactions are exempt from VAT, meaning VAT is not charged on these items. It’s crucial to note that this exemption is distinct from a zero rate of VAT.

Zero-rated VAT applies to specific items, including most food and children’s clothing, where VAT is charged at 0%. The intricacies of VAT make it a complex tax, necessitating meticulous attention to ensure the appropriate rate is applied to each good or service to avoid discrepancies and ensure compliance.

How is Corporation Tax calculated and paid?

Corporation Tax is levied on the profits of limited companies and certain associations in the UK. Companies are responsible for calculating their own tax liability and paying it without receiving a bill. This tax applies to trading profits, investment income, and capital gains.

UK-based companies pay tax on all profits, while non-UK-based companies are taxed only on UK-derived profits. Payment is typically due 9 months and 1 day post the accounting period’s end.

What are Capital Allowances?

Capital Allowances are reliefs that allow businesses to deduct the cost of certain capital assets from their taxable profits, reducing their tax liability. They apply to assets such as machinery, equipment, and vehicles used for business purposes.

By claiming capital allowances, businesses can effectively lower their taxable income, leading to savings in Corporation Tax.

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