Tax

 
 

 

We always work towards preparing both personal and company tax returns as early as possible as this means that any tax refunds are obtained quickly, that forthcoming payments can be budgeted for and that a health check can be carried out on our clients tax affairs.

 

Contact with all clients is made regularly, based on their individual needs, to ensure that we are at all times up to date with their requirements and changing circumstances.

 

We cover the full range of ‘end of year’ work for individuals and companies and, as with all tax returns, we ensure that our clients are always aware of tax compliance requirements and all filing deadlines are met.

 

The department is always happy to assist with other matters such as Accountants References for loan and mortgage purposes, National Insurance questions, State Retirement Pension reviews, Student Support forms as well as assistance on Capital Gains Tax, Inheritance Tax etc.

 

 

Tax Planning

At Stephen Penny and Partners, we can assist in all areas of Tax Planning, both producing strategies and problem solving techniques to minimise the amount of tax paid, inclusive of Income Tax, Capital Gains Tax and Inheritance Tax . As a practice we are focused to ensure all our clients extract their income in the most tax efficient manner whilst continually ensuring that all legislation is complied with.
 
We are a pro-active firm where planning is always a key consideration for us to ensure that all clients have the correct business structure. From the initial ideas through to implementation, as a practice we work with you ensuring the best decisions are made. We support both new and current clients, and are happy to assist in all planning structures and queries.
 

Fee Protection & Tax Investigations

Being investigated by HM Revenue & Customs has cost many firms across the UK thousands of pounds and huge amounts of stress. It can be disruptive, intrusive and expensive. Often cases can drag on saddling you with spiralling costs and rocketing stress levels.  An investigation may be triggered by an innocent mistake or simply something HMRC see as an anomaly on a tax return.  But they don’t have to have a reason at all. Every taxpayer is at risk of being chosen at any time on a purely random basis.

 

To protect our clients, SP&P take out an insurance policy with Professional Fee Protection that enables us to offer our clients TaxProtect, a service that protects you from the huge financial implications of an investigation or dispute with the tax authorities. As we can recover the cost of representing you from our policy, in most cases you pay nothing at all, which could potentially save you thousands.

 

SP&P offer this protection to all of its clients, both existing and new, and means that an accountant who knows your business will be assisting in the investigation should one occur.