Our Services > Personal Tax >

Self Assessment

Specialist Tax Advice

Self-assessment (SA) was supposed to be a simplified system, but with frequent and complex changes to both legislation and practice, the reality has proved to be far from simple. Constant legislative changes, today’s litigious environment and the anticipated escalation in both the volume and nature of Inland Revenue enquiries, are all serving to place an increased burden on our profession. We can help to alleviate some of your burden by providing you with a support system offering proactive and effective tax advice.

One of the areas most affected by legislative changes is Capital Gains Tax (CGT). I have listed a few of the changes in Appendix One. Getting the advice and/or the computations wrong can prove expensive for both you and your client.

We are specialists in providing CGT advice and can provide you with the support that you need. We will take as high or low profile as is appropriate to your relationship with your client. The level of our involvement is completely up to you. We can help by providing you with a fast, succinct and professional tax advisory service. Please be assured that we are not endeavouring to “poach your clients” and are happy to enter into a non-poaching agreement with you.

Appendix Two provides further information about us.

Appendix One

I have listed below a few of the legislative changes affecting Capital Gains Tax (CGT) since the implementation of Self Assessment: -

• Abolition of Indexation Allowance (05/04/98) and introduction of Taper Relief (06/04/98)
• Matching rules for share acquisitions/disposals introduced – abolition of bed and breakfasting shares (06/04/98)
• Phased abolition of Retirement Relief (1999/2000 to 2002/03)
• Definition for Business Asset Taper Relief [BATR] widened (06/04/00)*
• Reduction in qualifying period for maximum BATR (06/04/02)**
• Base cost of shares acquired via exercise of unapproved share options***. Court of Appeal decision in Mansworth v Jelley

(December 2002)(legislation restored 09/04/03 et seq FA2003).

• Restrictions imposed on gifts relief (10/12/03)
• Increase in rate of CGT for trusts (06/04/04)
• Abolition of CGT deferral for gains reinvested in VCT shares (06/04/04)

*Mixed taper relief calculation if asset acquired prior to 06/04/00

** Mixed taper relief calculation if asset acquired prior to 06/04/02

***Or approved options exercised in an unapproved way (resulting in an income tax charge)

Appendix Two

The majority of our specialist tax team are Chartered Tax Advisers (members of the Chartered Institute of Taxation), and many of them have over 20 years relevant tax experience.

We have amassed a wealth of knowledge from providing tax advice on all of the UK taxes (Income Tax, Capital Gains Tax, Inheritance Tax, National Insurance, Corporation Tax, VAT and Stamp Duty Land Tax).

The level of our involvement is up to you. We are happy to be engaged: -

• Directly by you – providing an invisible back up system, or
• By your client – if your preference is to introduce us as external tax specialists.

We have already found both of these types of arrangements to be successful with the provision of fast, accurate and succinct tax advice (and computations).

We believe that our experience and expertise could provide valuable assistance for you.

Our Capital Gains Tax service can include: -

• Compilation of share pools and advice regarding share matching;
• Mixed use taper relief calculations;
• Full computation of the Capital Gains Tax liability;
• Advice regarding CGT mitigation;
• Providing help and support in dealing with an Inland Revenue enquiry;
• Advice on the CGT consequences on separation and divorce;
• Full technical support.

Instructing us will provide you with top quality, fast, professional advice at competitive rates. Our fee structure will depend on the level of support required but can range from a monthly retainer for telephone support to an up-front fixed fee quote for fulfilling a predefined project.

We can become a valuable tool for your business. We can provide you with exactly the type of advice that you require whether you are seeking reassurance, support or someone to recommend to your clients and whether your preferred medium is by telephone, letter, email or fax.